25,925 Haemonetics Corporation $HAE Shares Sold by Skylands Capital LLC

Key Points

• Skylands Capital cut its Haemonetics stake by 54.4% in the third quarter, selling 25,925 shares and retaining 21,700 shares valued at approximately $2.29 million.
• Institutional ownership remains very high at 99.67%, with several major investors—including Dimensional Fund Advisors and Assenagon Asset Management—boosting their positions.
• Haemonetics reported quarterly EPS of $1.14, exceeding estimates by $0.06, while revenue rose 5.5% year over year to $339.38 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $110.

Skylands Capital LLC trimmed its holdings in Haemonetics Corporation (NYSE:HAE - Free Report) by 54.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,700 shares of the medical instruments supplier's stock after selling 25,925 shares during the quarter. Skylands Capital LLC's holdings in Haemonetics were worth $2,285,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HAE. Dimensional Fund Advisors LP lifted its holdings in shares of Haemonetics by 21.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier's stock worth $74,731,000 after buying an additional 233,119 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Haemonetics by 17.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier's stock worth $47,400,000 after acquiring an additional 124,020 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Haemonetics by 1,191.9% during the third quarter. Assenagon Asset Management S.A. now owns 453,579 shares of the medical instruments supplier's stock valued at $47,762,000 after acquiring an additional 418,470 shares in the last quarter. Bank of America Corp DE purchased a new position in Haemonetics during the second quarter valued at $33,326,000. Finally, London Co. of Virginia grew its stake in Haemonetics by 33.9% during the first quarter. London Co. of Virginia now owns 352,807 shares of the medical instruments supplier's stock valued at $19,884,000 after acquiring an additional 89,242 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Price Performance

HAE stock opened at $116.93 on Thursday. Haemonetics Corporation has a 52 week low of $48.98 and a 52 week high of $123.77. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $107.30 and a two-hundred day simple moving average of $83.13. The firm has a market capitalization of $5.32 billion, a P/E ratio of 57.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.61.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. The business had revenue of $339.38 million during the quarter, compared to analysts' expectations of $327.86 million. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The business's revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. Analysts anticipate that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HAE. Citigroup lifted their price target on shares of Haemonetics from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Wall Street Zen raised shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Raymond James Financial raised their price objective on Haemonetics from $105.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Weiss Ratings raised Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, Mizuho lifted their target price on Haemonetics from $95.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.00.

Haemonetics Company Profile

Haemonetics Corporation NYSE: HAE is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company's offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.

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