Capital Research Global Investors Cuts Stock Holdings in Haemonetics Co. (NYSE:HAE)

Capital Research Global Investors reduced its stake in Haemonetics Co. (NYSE:HAE - Free Report) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,238,954 shares of the medical instruments supplier's stock after selling 203,699 shares during the quarter. Capital Research Global Investors owned approximately 8.44% of Haemonetics worth $330,978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Haemonetics during the fourth quarter valued at about $32,803,000. Groupama Asset Managment purchased a new position in shares of Haemonetics in the 4th quarter worth approximately $19,520,000. Raymond James Financial Inc. bought a new position in shares of Haemonetics in the fourth quarter valued at approximately $19,002,000. Thrivent Financial for Lutherans increased its position in shares of Haemonetics by 14.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier's stock valued at $98,716,000 after acquiring an additional 164,111 shares during the last quarter. Finally, Boston Partners lifted its holdings in Haemonetics by 27.5% during the fourth quarter. Boston Partners now owns 536,262 shares of the medical instruments supplier's stock worth $41,485,000 after acquiring an additional 115,506 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HAE. Bank of America lowered Haemonetics from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $95.00 to $68.00 in a research report on Friday, February 7th. Barrington Research lowered their price objective on shares of Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Raymond James reissued a "strong-buy" rating and set a $115.00 target price (down from $120.00) on shares of Haemonetics in a research report on Friday, February 7th. JMP Securities lowered their price target on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating on the stock in a report on Friday, February 7th. Finally, Needham & Company LLC reduced their price objective on Haemonetics from $108.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned 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 $101.22.

Haemonetics Stock Performance

Shares of NYSE:HAE traded down $0.11 during trading on Friday, hitting $61.81. 79,913 shares of the company were exchanged, compared to its average volume of 688,800. Haemonetics Co. has a 52-week low of $55.30 and a 52-week high of $97.97. The stock has a 50 day moving average of $62.86 and a 200 day moving average of $72.25. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55. The company has a market cap of $3.11 billion, a PE ratio of 24.33, a P/E/G ratio of 1.11 and a beta of 0.41.

Haemonetics (NYSE:HAE - Get Free Report) last issued its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. As a group, equities research analysts predict that Haemonetics Co. will post 4.55 EPS for the current 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.