Martingale Asset Management L P Sells 4,050 Shares of Haemonetics Co. (NYSE:HAE)

Martingale Asset Management L P reduced its stake in Haemonetics Co. (NYSE:HAE) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,019 shares of the medical instruments supplier’s stock after selling 4,050 shares during the period. Martingale Asset Management L P’s holdings in Haemonetics were worth $2,011,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HAE. Quarry LP bought a new stake in Haemonetics in the 2nd quarter valued at about $39,000. Daiwa Securities Group Inc. bought a new stake in shares of Haemonetics during the second quarter valued at approximately $82,000. Canada Pension Plan Investment Board acquired a new position in shares of Haemonetics during the second quarter worth approximately $83,000. Nisa Investment Advisors LLC lifted its holdings in shares of Haemonetics by 124.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 632 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Haemonetics in the 2nd quarter valued at $140,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HAE shares. Citigroup lowered their price objective on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a research report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a report on Tuesday, August 13th. Bank of America assumed coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $112.00 price target on shares of Haemonetics in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Stock Down 0.5 %

HAE opened at $87.47 on Friday. The company’s 50-day moving average price is $79.99 and its two-hundred day moving average price is $82.15. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. Haemonetics Co. has a twelve month low of $70.25 and a twelve month high of $97.97. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 1.37 and a beta of 0.32.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business had revenue of $345.50 million during the quarter, compared to the consensus estimate of $342.57 million. During the same period last year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Haemonetics Co. will post 4.59 earnings per share for the current year.

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.