Confluence Investment Management LLC Buys New Position in Haemonetics Co. (NYSE:HAE)

Confluence Investment Management LLC purchased a new stake in Haemonetics Co. (NYSE:HAE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 42,722 shares of the medical instruments supplier's stock, valued at approximately $2,715,000. Confluence Investment Management LLC owned 0.09% of Haemonetics at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HAE. Janney Montgomery Scott LLC acquired a new position in shares of Haemonetics during the fourth quarter valued at about $402,000. KBC Group NV boosted its stake in Haemonetics by 54.6% during the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier's stock valued at $157,000 after purchasing an additional 712 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Haemonetics by 36.1% during the 4th quarter. Pacer Advisors Inc. now owns 10,104 shares of the medical instruments supplier's stock valued at $789,000 after purchasing an additional 2,680 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Haemonetics by 13.1% during the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock valued at $71,500,000 after buying an additional 106,114 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Haemonetics during the fourth quarter valued at approximately $319,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Bank of America cut Haemonetics from a "neutral" rating to an "underperform" rating and cut their target price for the company from $95.00 to $68.00 in a research report on Friday, February 7th. Needham & Company LLC cut their price objective on shares of Haemonetics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Barrington Research cut their price target on shares of Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Raymond James restated a "strong-buy" rating and set a $105.00 price target (down from $115.00) on shares of Haemonetics in a report on Friday, May 9th. Finally, JMP Securities restated a "market outperform" rating and issued a $100.00 target price on shares of Haemonetics in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Haemonetics currently has a consensus rating of "Moderate Buy" and an average target price of $97.89.

Haemonetics Stock Performance

Shares of Haemonetics stock traded down $0.16 on Friday, reaching $67.68. 824,062 shares of the company traded hands, compared to its average volume of 679,583. Haemonetics Co. has a 52 week low of $55.30 and a 52 week high of $94.99. The company has a 50 day moving average of $63.44 and a 200 day moving average of $70.36. The firm has a market capitalization of $3.25 billion, a PE ratio of 26.65, a PEG ratio of 1.11 and a beta of 0.32. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $329.38 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. Haemonetics's revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts forecast that Haemonetics Co. will post 4.55 earnings per share for the current year.

Haemonetics Profile

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.