Bridgefront Capital LLC Purchases New Position in Haemonetics Co. (NYSE:HAE)

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HAE. TD Waterhouse Canada Inc. acquired a new position in shares of Haemonetics during the 4th quarter valued at about $25,000. Covestor Ltd grew its stake in shares of Haemonetics by 146.8% in the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock valued at $58,000 after buying an additional 439 shares during the period. Whittier Trust Co. acquired a new stake in shares of Haemonetics during the 4th quarter worth approximately $62,000. Parkside Financial Bank & Trust raised its position in shares of Haemonetics by 25.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier's stock valued at $92,000 after buying an additional 240 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Haemonetics by 36,520.0% in the fourth quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier's stock valued at $143,000 after acquiring an additional 1,826 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

HAE has been the topic of a number of research analyst reports. JMP Securities reduced their target price on Haemonetics from $125.00 to $100.00 and set a "market outperform" rating on the stock in a research report on Friday, February 7th. StockNews.com raised shares of Haemonetics from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Needham & Company LLC dropped their price target on shares of Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Thursday. Bank of America lowered shares of Haemonetics from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $95.00 to $68.00 in a report on Friday, February 7th. Finally, Raymond James reissued a "strong-buy" rating and issued a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.89.

Haemonetics Stock Up 0.3 %

NYSE:HAE traded up $0.20 during midday trading on Friday, reaching $68.21. The company had a trading volume of 782,442 shares, compared to its average volume of 693,989. The stock's fifty day simple moving average is $62.75 and its 200-day simple moving average is $71.40. 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 Co. has a 12-month low of $55.30 and a 12-month high of $97.97. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.11 and a beta of 0.32.

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

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.