Prudential Financial Inc. Decreases Position in Haemonetics Co. (NYSE:HAE)

Prudential Financial Inc. lessened its holdings in Haemonetics Co. (NYSE:HAE) by 55.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,283 shares of the medical instruments supplier’s stock after selling 244,520 shares during the period. Prudential Financial Inc.’s holdings in Haemonetics were worth $23,260,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bridge City Capital LLC raised its position in shares of Haemonetics by 0.5% in the second quarter. Bridge City Capital LLC now owns 31,765 shares of the medical instruments supplier’s stock valued at $3,823,000 after purchasing an additional 156 shares during the period. Retirement Systems of Alabama increased its position in shares of Haemonetics by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 66,603 shares of the medical instruments supplier’s stock valued at $8,015,000 after purchasing an additional 205 shares during the last quarter. Alpha Windward LLC bought a new position in shares of Haemonetics during the 2nd quarter valued at about $29,000. Financial Gravity Wealth Inc. bought a new position in shares of Haemonetics during the 2nd quarter valued at about $40,000. Finally, Arjuna Capital increased its position in shares of Haemonetics by 13.5% during the 2nd quarter. Arjuna Capital now owns 3,415 shares of the medical instruments supplier’s stock valued at $411,000 after purchasing an additional 405 shares during the last quarter. 99.23% of the stock is owned by institutional investors.

Several equities analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Haemonetics from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Raymond James increased their price objective on Haemonetics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barrington Research reiterated an “outperform” rating and set a $139.00 price objective (up from $116.00) on shares of Haemonetics in a research report on Wednesday, August 7th. Morgan Stanley increased their price objective on Haemonetics from $128.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, JMP Securities increased their price objective on Haemonetics to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Haemonetics has an average rating of “Buy” and a consensus price target of $140.67.

Haemonetics stock traded up $0.43 during trading on Thursday, hitting $129.35. The company had a trading volume of 20,463 shares, compared to its average volume of 310,108. Haemonetics Co. has a 1-year low of $80.24 and a 1-year high of $140.36. The company has a current ratio of 2.10, a quick ratio of 1.34 and a debt-to-equity ratio of 0.54. The company’s 50 day simple moving average is $129.26 and its 200-day simple moving average is $105.45. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 54.18, a price-to-earnings-growth ratio of 3.16 and a beta of 0.81.

Haemonetics (NYSE:HAE) last posted its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.18. Haemonetics had a net margin of 5.05% and a return on equity of 21.07%. The firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $236.82 million. During the same quarter last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Haemonetics Co. will post 3.09 earnings per share for the current fiscal year.

In other Haemonetics news, CFO William P. Mr. Burke sold 411 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $103.38, for a total value of $42,489.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Simon sold 50,869 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $137.43, for a total transaction of $6,990,926.67. The disclosure for this sale can be found here. Insiders sold a total of 74,180 shares of company stock valued at $9,603,485 in the last quarter. 1.32% of the stock is owned by insiders.

Haemonetics Profile

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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Institutional Ownership by Quarter for Haemonetics (NYSE:HAE)

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