Los Angeles Capital Management & Equity Research Inc. trimmed its position in Haemonetics Co. (NYSE:HAE) by 13.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,538 shares of the medical instruments supplier’s stock after selling 6,740 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.09% of Haemonetics worth $5,360,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Financial Gravity Wealth Inc. acquired a new stake in Haemonetics during the second quarter worth about $40,000. Steward Partners Investment Advisory LLC purchased a new position in Haemonetics during the second quarter worth approximately $90,000. Bridge City Capital LLC boosted its position in Haemonetics by 0.5% during the second quarter. Bridge City Capital LLC now owns 31,765 shares of the medical instruments supplier’s stock worth $3,823,000 after purchasing an additional 156 shares in the last quarter. Arizona State Retirement System boosted its position in Haemonetics by 1.5% during the second quarter. Arizona State Retirement System now owns 37,164 shares of the medical instruments supplier’s stock worth $4,472,000 after purchasing an additional 538 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in Haemonetics by 20.1% during the second quarter. Bessemer Group Inc. now owns 41,900 shares of the medical instruments supplier’s stock worth $5,042,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.
In other Haemonetics news, Director Ronald G. Gelbman sold 1,696 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $134.15, for a total transaction of $227,518.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Simon sold 24,412 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $99.39, for a total value of $2,426,308.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,830 shares of company stock valued at $5,153,165. 1.32% of the stock is owned by insiders.
Shares of Haemonetics stock opened at $135.29 on Wednesday. Haemonetics Co. has a one year low of $80.24 and a one year high of $137.49. The stock has a market capitalization of $6.75 billion, a P/E ratio of 56.73, a price-to-earnings-growth ratio of 3.26 and a beta of 0.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.34 and a current ratio of 2.10. The stock’s 50 day moving average is $123.33.
Haemonetics (NYSE:HAE) last posted its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.18. The company had revenue of $238.50 million during the quarter, compared to analysts’ expectations of $236.82 million. Haemonetics had a return on equity of 21.07% and a net margin of 5.05%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Equities analysts predict that Haemonetics Co. will post 3.03 EPS for the current fiscal year.
A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Haemonetics from $128.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Barrington Research reiterated an “outperform” rating and set a $139.00 price target (up previously from $116.00) on shares of Haemonetics in a research report on Wednesday, August 7th. TheStreet upgraded Haemonetics from a “c+” rating to a “b-” rating in a research report on Tuesday, May 7th. Jefferies Financial Group raised their target price on Haemonetics from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Raymond James raised their target price on Haemonetics from $110.00 to $150.00 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 given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $140.67.
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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