379,989 Haemonetics Corporation $HAE Shares Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors cut its Haemonetics stake by 45.7%, selling 379,989 shares in the third quarter and retaining 450,936 shares valued at approximately $47.5 million.
• Institutional ownership remains very high at 99.67%, with several major investors initiating or increasing positions, including Bank of America, William Blair Investment Management, and Dimensional Fund Advisors.
• Haemonetics reported quarterly EPS of $1.14, exceeding estimates, 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.

Fort Washington Investment Advisors Inc. OH decreased its stake in Haemonetics Corporation (NYSE:HAE - Free Report) by 45.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 450,936 shares of the medical instruments supplier's stock after selling 379,989 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.99% of Haemonetics worth $47,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in Haemonetics during the 2nd quarter worth about $33,326,000. William Blair Investment Management LLC acquired a new position in shares of Haemonetics in the second quarter worth about $24,906,000. Bank of New York Mellon Corp acquired a new position in shares of Haemonetics in the second quarter worth about $21,566,000. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 233,119 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Haemonetics by 3,597.3% in the first quarter. Pacer Advisors Inc. now owns 207,121 shares of the medical instruments supplier's stock worth $11,673,000 after acquiring an additional 201,519 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Haemonetics Price Performance

Shares of HAE opened at $120.99 on Thursday. The business's 50-day moving average is $104.17 and its 200-day moving average is $80.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 2.43 and a beta of 0.61. Haemonetics Corporation has a fifty-two week low of $48.55 and a fifty-two week high of $123.77.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BTIG Research boosted their price target on shares of Haemonetics from $110.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Robert W. Baird raised their price objective on shares of Haemonetics from $96.00 to $119.00 and gave the stock an "outperform" rating in a research note on Friday, August 21st. Mizuho lifted their price objective on shares of Haemonetics from $95.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, October 9th. Finally, Citigroup boosted their target price on shares of Haemonetics from $79.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $110.00.

About Haemonetics

Haemonetics Corporation NYSE: HAE is a medical technology company that develops and supplies products and software for blood management. Its solutions are used to collect, process, manage and analyze blood and blood components, helping healthcare providers and blood and plasma collection organizations improve the availability, safety and efficiency of transfusion-related care.

The company's portfolio includes plasma and blood component collection systems, disposable collection and processing kits, surgical blood recovery and autotransfusion systems, and technologies used to assess coagulation and hemostasis.

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