Great Lakes Advisors LLC increased its position in shares of Haemonetics Co. (NYSE:HAE – Free Report) by 10.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,863 shares of the medical instruments supplier’s stock after purchasing an additional 16,569 shares during the period. Great Lakes Advisors LLC owned about 0.36% of Haemonetics worth $15,314,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of HAE. Capital Research Global Investors increased its position in shares of Haemonetics by 166.1% during the first quarter. Capital Research Global Investors now owns 5,452,006 shares of the medical instruments supplier’s stock valued at $344,676,000 after purchasing an additional 3,402,873 shares during the period. Wellington Management Group LLP grew its position in Haemonetics by 21.5% in 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 acquiring an additional 1,091,484 shares during the period. Norges Bank bought a new stake in Haemonetics in the fourth quarter valued at $33,932,000. Envestnet Asset Management Inc. grew its position in Haemonetics by 1,335.9% in the first quarter. Envestnet Asset Management Inc. now owns 406,531 shares of the medical instruments supplier’s stock valued at $2,091,000 after acquiring an additional 378,219 shares during the period. Finally, Federated Hermes Inc. grew its position in Haemonetics by 224.8% in the first quarter. Federated Hermes Inc. now owns 462,586 shares of the medical instruments supplier’s stock valued at $29,245,000 after acquiring an additional 320,184 shares during the period. 99.38% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
HAE has been the topic of a number of analyst reports. StockNews.com initiated coverage on Haemonetics in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Barrington Research lowered their price target on Haemonetics from $114.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Finally, Citigroup upped their price target on Haemonetics from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.40.
Haemonetics Price Performance
Haemonetics stock opened at $83.21 on Friday. The business’s fifty day moving average is $88.52 and its two-hundred day moving average is $87.50. The firm has a market cap of $4.22 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.31 and a beta of 0.38. Haemonetics Co. has a 52 week low of $72.26 and a 52 week high of $95.26. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.19 and a current ratio of 3.28.
Insider Activity at Haemonetics
In other news, EVP Anila Lingamneni sold 2,305 shares of the company’s stock in a transaction on 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 directly owns 14,495 shares in the company, valued at approximately $1,304,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.79% of the stock is currently owned by corporate insiders.
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.
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