Bridgefront Capital LLC Takes $395,000 Position in Haemonetics Co. (NYSE:HAE)

Bridgefront Capital LLC purchased a new stake in Haemonetics Co. (NYSE:HAE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,065 shares of the medical instruments supplier's stock, valued at approximately $395,000.

Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in shares of Haemonetics by 14.7% in the 4th quarter. Captrust Financial Advisors now owns 4,872 shares of the medical instruments supplier's stock worth $380,000 after buying an additional 624 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Haemonetics in the 4th quarter valued at approximately $3,845,000. BNP Paribas Financial Markets lifted its holdings in Haemonetics by 95.9% in the fourth quarter. BNP Paribas Financial Markets now owns 33,209 shares of the medical instruments supplier's stock valued at $2,593,000 after acquiring an additional 16,260 shares during the period. Aristotle Capital Boston LLC increased its stake in shares of Haemonetics by 6.1% in the fourth quarter. Aristotle Capital Boston LLC now owns 380,617 shares of the medical instruments supplier's stock worth $29,719,000 after purchasing an additional 22,011 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Haemonetics during the fourth quarter valued at approximately $794,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Price Performance

NYSE:HAE traded up $1.23 during trading hours on Monday, reaching $69.42. 147,088 shares of the company were exchanged, compared to its average volume of 692,877. Haemonetics Co. has a twelve month low of $55.30 and a twelve month high of $97.97. The firm has a market cap of $3.49 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.11 and a beta of 0.32. The stock's 50-day moving average is $62.75 and its 200-day moving average is $71.36. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. The business had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. During the same quarter last year, the firm posted $0.90 EPS. The business's revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Haemonetics Co. will post 4.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HAE shares. Needham & Company LLC dropped their price objective on shares of Haemonetics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday. Bank of America downgraded shares of Haemonetics from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $95.00 to $68.00 in a research report on Friday, February 7th. Barrington Research lowered their price target on Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. JMP Securities lowered their price objective on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating on the stock in a research note on Friday, February 7th. Finally, Raymond James restated a "strong-buy" rating and issued a $105.00 price objective (down from $115.00) on shares of Haemonetics in a report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Haemonetics currently has a consensus rating of "Moderate Buy" and an average price target of $97.89.

About Haemonetics

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.