OppenheimerFunds Inc. reduced its stake in shares of Haemonetics Co. (NYSE:HAE) by 20.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,744 shares of the medical instruments supplier’s stock after selling 3,017 shares during the period. OppenheimerFunds Inc.’s holdings in Haemonetics were worth $682,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HAE. American International Group Inc. increased its stake in shares of Haemonetics by 1.8% in the fourth quarter. American International Group Inc. now owns 42,271 shares of the medical instruments supplier’s stock worth $2,455,000 after purchasing an additional 743 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Haemonetics by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 40,317 shares of the medical instruments supplier’s stock worth $2,342,000 after purchasing an additional 827 shares during the period. Rothschild Asset Management Inc. increased its stake in shares of Haemonetics by 1.5% in the third quarter. Rothschild Asset Management Inc. now owns 89,178 shares of the medical instruments supplier’s stock worth $4,001,000 after purchasing an additional 1,320 shares during the period. Louisiana State Employees Retirement System grew its position in Haemonetics by 6.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the medical instruments supplier’s stock worth $1,318,000 after buying an additional 1,400 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Haemonetics by 1.8% during the third quarter. Prudential Financial Inc. now owns 90,892 shares of the medical instruments supplier’s stock worth $4,078,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.
A number of equities research analysts have weighed in on the company. ValuEngine raised Haemonetics from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research raised Haemonetics from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Friday, February 9th. TheStreet downgraded Haemonetics from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. Morgan Stanley lifted their price objective on Haemonetics from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $71.00 price objective (up from $57.00) on shares of Haemonetics in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.33.
Shares of Haemonetics Co. (HAE) opened at $72.98 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.82. The firm has a market capitalization of $3,932.67, a P/E ratio of 40.43, a price-to-earnings-growth ratio of 3.64 and a beta of 0.92. Haemonetics Co. has a 1-year low of $38.43 and a 1-year high of $75.45.
Haemonetics (NYSE:HAE) last announced its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, topping the consensus estimate of $0.44 by $0.18. The business had revenue of $234.04 million for the quarter, compared to the consensus estimate of $227.79 million. Haemonetics had a positive return on equity of 12.39% and a negative net margin of 1.94%. Haemonetics’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. equities research analysts predict that Haemonetics Co. will post 1.86 EPS for the current fiscal year.
Haemonetics declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 6th that allows the company to repurchase $260.00 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Michelle L. Basil sold 389 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $72.23, for a total value of $28,097.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark W. Kroll sold 7,118 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.00, for a total value of $448,434.00. Following the completion of the transaction, the director now directly owns 33,881 shares in the company, valued at $2,134,503. The disclosure for this sale can be found here. Insiders sold a total of 7,621 shares of company stock worth $484,766 over the last three months. 1.20% of the stock is owned by company insiders.
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Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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