Haemonetics Co. (NYSE:HAE) EVP Sells $897,065.28 in Stock

Haemonetics Co. (NYSE:HAEGet Rating) EVP Michelle L. Basil sold 11,448 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $78.36, for a total value of $897,065.28. Following the sale, the executive vice president now directly owns 32,635 shares in the company, valued at $2,557,278.60. The transaction was disclosed in a filing with the SEC, which is available at this link.

Haemonetics Trading Down 2.6 %

Shares of HAE stock opened at $74.31 on Friday. The stock has a 50-day simple moving average of $72.71 and a 200 day simple moving average of $64.16. Haemonetics Co. has a fifty-two week low of $43.50 and a fifty-two week high of $79.45. The stock has a market capitalization of $3.81 billion, a P/E ratio of 56.73 and a beta of 0.36. The company has a quick ratio of 2.27, a current ratio of 3.81 and a debt-to-equity ratio of 0.99.

Haemonetics (NYSE:HAEGet Rating) last announced its earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate of $0.51 by $0.07. Haemonetics had a return on equity of 18.62% and a net margin of 6.60%. The business had revenue of $261.50 million during the quarter, compared to the consensus estimate of $249.00 million. During the same period in the prior year, the business posted $0.50 earnings per share. Haemonetics’s revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts expect that Haemonetics Co. will post 2.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HAE has been the topic of several research reports. Barrington Research upped their price target on Haemonetics from $77.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. Morgan Stanley increased their target price on Haemonetics from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 11th. Raymond James increased their price target on Haemonetics from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. JMP Securities increased their price target on Haemonetics from $80.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 11th. Finally, StockNews.com raised Haemonetics from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.80.

Institutional Investors Weigh In On Haemonetics

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Haemonetics by 21.5% during the first quarter. Wellington Management Group LLP now owns 6,165,363 shares of the medical instruments supplier’s stock valued at $389,776,000 after purchasing an additional 1,091,484 shares during the last quarter. Capital Research Global Investors lifted its stake in Haemonetics by 166.1% in the 1st quarter. Capital Research Global Investors now owns 5,452,006 shares of the medical instruments supplier’s stock worth $344,676,000 after acquiring an additional 3,402,873 shares in the last quarter. Vanguard Group Inc. lifted its stake in Haemonetics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,909,896 shares of the medical instruments supplier’s stock worth $310,404,000 after acquiring an additional 28,960 shares in the last quarter. State Street Corp lifted its stake in Haemonetics by 1.8% in the 4th quarter. State Street Corp now owns 1,691,193 shares of the medical instruments supplier’s stock worth $89,701,000 after acquiring an additional 29,958 shares in the last quarter. Finally, LGT Capital Partners LTD. lifted its stake in Haemonetics by 2.2% in the 2nd quarter. LGT Capital Partners LTD. now owns 988,149 shares of the medical instruments supplier’s stock worth $64,408,000 after acquiring an additional 21,650 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Company Profile

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Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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