Harvest Fund Management Co. Ltd Buys 1,062 Shares of Haemonetics Co. (NYSE:HAE)

Harvest Fund Management Co. Ltd grew its stake in Haemonetics Co. (NYSE:HAE) by 78.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,411 shares of the medical instruments supplier’s stock after purchasing an additional 1,062 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Haemonetics were worth $205,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Byrne Asset Management LLC increased its position in shares of Haemonetics by 64.0% during the first quarter. Byrne Asset Management LLC now owns 305 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 119 shares during the last quarter. Stifel Financial Corp increased its position in shares of Haemonetics by 2.5% during the first quarter. Stifel Financial Corp now owns 4,891 shares of the medical instruments supplier’s stock valued at $405,000 after acquiring an additional 119 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Haemonetics by 65.2% during the fourth quarter. Meeder Asset Management Inc. now owns 342 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 135 shares during the last quarter. Signaturefd LLC increased its position in shares of Haemonetics by 43.9% during the first quarter. Signaturefd LLC now owns 449 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 137 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Haemonetics by 4.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,202 shares of the medical instruments supplier’s stock valued at $252,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 99.38% of the company’s stock.

Haemonetics Price Performance

Shares of NYSE HAE opened at $90.06 on Friday. The stock has a market cap of $4.57 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.35 and a beta of 0.41. Haemonetics Co. has a fifty-two week low of $71.63 and a fifty-two week high of $95.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.16 and a current ratio of 3.38. The stock has a fifty day moving average of $89.43 and a 200-day moving average of $85.04.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Tuesday, August 8th. The medical instruments supplier reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.32. The company had revenue of $311.30 million during the quarter, compared to analysts’ expectations of $292.74 million. Haemonetics had a return on equity of 22.49% and a net margin of 11.21%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. Equities research analysts anticipate that Haemonetics Co. will post 3.82 earnings per share for the current year.

Insider Activity

In related news, EVP Josep Llorens sold 4,928 shares of Haemonetics stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $90.00, for a total transaction of $443,520.00. Following the completion of the sale, the executive vice president now owns 18,463 shares of the company’s stock, valued at $1,661,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Haemonetics news, EVP Anila Lingamneni sold 2,305 shares of Haemonetics stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $90.00, for a total transaction of $207,450.00. Following the completion of the sale, the executive vice president now owns 14,495 shares of the company’s stock, valued at $1,304,550. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Josep Llorens sold 4,928 shares of Haemonetics stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $90.00, for a total value of $443,520.00. Following the sale, the executive vice president now directly owns 18,463 shares of the company’s stock, valued at approximately $1,661,670. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,461 shares of company stock worth $671,638. 1.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barrington Research raised their target price on Haemonetics from $111.00 to $114.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. StockNews.com downgraded Haemonetics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $103.67.

Haemonetics Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions 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, and Donor360.