Bank of New York Mellon Corp Cuts Holdings in Haemonetics Corporation (NYSE:HAE)

Bank of New York Mellon Corp decreased its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 370,052 shares of the medical instruments supplier's stock after selling 16,437 shares during the period. Bank of New York Mellon Corp owned 0.74% of Haemonetics worth $23,517,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Haemonetics by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 158,894 shares of the medical instruments supplier's stock worth $10,098,000 after acquiring an additional 2,160 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Haemonetics during the 1st quarter worth $467,000. Vontobel Holding Ltd. lifted its position in shares of Haemonetics by 21.7% during the 1st quarter. Vontobel Holding Ltd. now owns 15,839 shares of the medical instruments supplier's stock worth $1,007,000 after purchasing an additional 2,828 shares during the last quarter. Peregrine Capital Management LLC raised its stake in Haemonetics by 13.8% during the 1st quarter. Peregrine Capital Management LLC now owns 161,406 shares of the medical instruments supplier's stock worth $10,257,000 after acquiring an additional 19,603 shares in the last quarter. Finally, Skylands Capital LLC increased its stake in shares of Haemonetics by 105.2% during the first quarter. Skylands Capital LLC now owns 55,775 shares of the medical instruments supplier's stock worth $3,545,000 after acquiring an additional 28,600 shares during the period. Institutional investors own 99.67% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HAE shares. Citigroup upgraded shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Wednesday, July 9th. JMP Securities reissued a "market outperform" rating and set a $100.00 price objective on shares of Haemonetics in a report on Tuesday, May 20th. Raymond James Financial reiterated a "strong-buy" rating and issued a $105.00 price objective (down from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Baird R W raised shares of Haemonetics to a "strong-buy" rating in a research report on Wednesday, June 25th. Finally, Robert W. Baird began coverage on shares of Haemonetics in a research report on Thursday, June 26th. They set an "outperform" rating and a $87.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.30.

Haemonetics Stock Performance

Shares of HAE opened at $73.57 on Friday. The stock has a 50-day moving average price of $71.55 and a 200-day moving average price of $67.97. The company has a market cap of $3.53 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.21 and a beta of 0.39. Haemonetics Corporation has a 12-month low of $55.30 and a 12-month high of $94.99. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 1.12.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The firm had revenue of $330.60 million for the quarter, compared to the consensus estimate of $329.38 million. During the same period in the prior year, the company posted $0.90 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts forecast that Haemonetics Corporation will post 4.55 earnings per share for the current fiscal year.

Haemonetics Company 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.

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