Cwm LLC Cuts Holdings in Haemonetics Corporation (NYSE:HAE)

Key Points

• Cwm LLC significantly reduced its position in Haemonetics Corporation by 95.8%, holding only 1,190 shares valued at $76,000 following the sale of 27,363 shares.
• Haemonetics reported earnings per share of $1.24 for the most recent quarter, which exceeded estimates, while revenue was down 3.5% year-over-year.
• Analysts have mixed opinions on the stock; it currently holds a consensus rating of "Moderate Buy" with a target price of $97.30 based on eight buy ratings and one sell rating.

CWM LLC lessened its position in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 95.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,190 shares of the medical instruments supplier's stock after selling 27,363 shares during the quarter. CWM LLC's holdings in Haemonetics were worth $76,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of Haemonetics by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the medical instruments supplier's stock worth $896,000 after purchasing an additional 200 shares in the last quarter. CWC Advisors LLC. lifted its holdings in shares of Haemonetics by 7.4% in the 4th quarter. CWC Advisors LLC. now owns 3,083 shares of the medical instruments supplier's stock worth $241,000 after purchasing an additional 212 shares in the last quarter. Vise Technologies Inc. lifted its holdings in shares of Haemonetics by 8.7% in the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock worth $221,000 after purchasing an additional 225 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of Haemonetics in the 4th quarter worth $25,000. Finally, KBC Group NV lifted its holdings in shares of Haemonetics by 19.9% in the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock worth $154,000 after purchasing an additional 401 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HAE has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on Haemonetics in a research report on Thursday, June 26th. They issued an "outperform" rating and a $87.00 price target for the company. Citigroup upgraded Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Wednesday, July 9th. Needham & Company LLC dropped their price target on Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Raymond James Financial restated a "strong-buy" rating and issued a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Finally, Barrington Research reissued an "outperform" rating and set a $95.00 target price on shares of Haemonetics in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Haemonetics presently has a consensus rating of "Moderate Buy" and an average target price of $97.30.

Haemonetics Stock Down 0.2%

NYSE:HAE traded down $0.17 during mid-day trading on Wednesday, hitting $75.94. 309,326 shares of the company's stock traded hands, compared to its average volume of 735,839. The company has a fifty day moving average of $73.24 and a 200 day moving average of $67.65. Haemonetics Corporation has a twelve month low of $55.30 and a twelve month high of $94.99. The company has a market capitalization of $3.65 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.24 and a beta of 0.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.99 and a current ratio of 1.62.

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