Los Angeles Capital Management LLC Reduces Position in Haemonetics Co. (NYSE:HAE)

Los Angeles Capital Management LLC lowered its holdings in Haemonetics Co. (NYSE:HAE) by 0.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,954 shares of the medical instruments supplier’s stock after selling 200 shares during the period. Los Angeles Capital Management LLC’s holdings in Haemonetics were worth $1,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of HAE. Silvercrest Asset Management Group LLC acquired a new position in shares of Haemonetics in the 1st quarter valued at approximately $38,706,000. Price T Rowe Associates Inc. MD raised its holdings in Haemonetics by 38.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 562,454 shares of the medical instruments supplier’s stock valued at $48,006,000 after acquiring an additional 156,665 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Haemonetics by 311.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 25,775 shares of the medical instruments supplier’s stock valued at $2,132,000 after acquiring an additional 19,510 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Haemonetics by 26.8% during the 1st quarter. Janus Henderson Group PLC now owns 29,730 shares of the medical instruments supplier’s stock worth $2,536,000 after acquiring an additional 6,287 shares in the last quarter. Finally, CWM LLC increased its position in shares of Haemonetics by 40.5% in the 2nd quarter. CWM LLC now owns 36,526 shares of the medical instruments supplier’s stock worth $3,022,000 after purchasing an additional 10,537 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Price Performance

Shares of NYSE HAE opened at $91.78 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. The firm has a market capitalization of $4.61 billion, a PE ratio of 38.75, a P/E/G ratio of 1.45 and a beta of 0.32. Haemonetics Co. has a 1-year low of $70.25 and a 1-year high of $97.97. The business’s fifty day moving average price is $76.57 and its two-hundred day moving average price is $82.65.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. On average, research analysts expect that Haemonetics Co. will post 4.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup decreased their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. BTIG Research assumed coverage on Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target for the company. Bank of America initiated coverage on Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target on the stock. CL King began coverage on shares of Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective for the company. Finally, Barrington Research reissued an “outperform” rating and set a $108.00 target price on shares of Haemonetics in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.88.

Haemonetics Company 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 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 app.