Haemonetics Corporation $HAE Holdings Lessened by Allspring Global Investments Holdings LLC

Key Points

• Allspring cut its Haemonetics stake by 52.6% in the third quarter, selling 402,153 shares; it retained 362,967 shares valued at about $37.9 million. Institutional investors own 99.67% of the stock.
• Haemonetics reported quarterly EPS of $1.35, beating the $1.29 consensus, while revenue rose 9.4% year over year to $357.76 million, also exceeding estimates.
• Analysts give the stock a consensus “Moderate Buy” rating and an average price target of $126.38; recent targets include Citigroup’s $149 and Barrington Research’s $145.

Allspring Global Investments Holdings LLC reduced its holdings in Haemonetics Corporation (NYSE:HAE - Free Report) by 52.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 362,967 shares of the medical instruments supplier's stock after selling 402,153 shares during the period. Allspring Global Investments Holdings LLC owned about 0.80% of Haemonetics worth $37,883,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC increased its position in shares of Haemonetics by 104.5% during the third quarter. Fortitude Family Office LLC now owns 272 shares of the medical instruments supplier's stock valued at $29,000 after acquiring an additional 139 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Haemonetics during the 3rd quarter worth approximately $40,000. Kelleher Financial Advisors acquired a new stake in shares of Haemonetics during the 2nd quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Haemonetics in the 2nd quarter worth about $44,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Haemonetics during the second quarter valued at $54,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Trading Down 1.3%

Shares of Haemonetics stock opened at $120.72 on Thursday. Haemonetics Corporation has a 1 year low of $51.00 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.84 and a quick ratio of 1.83. The stock has a fifty day moving average price of $112.54 and a 200-day moving average price of $80.81. The firm has a market cap of $5.50 billion, a PE ratio of 24.04, a P/E/G ratio of 2.45 and a beta of 0.63.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, November 5th. The medical instruments supplier reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.06. Haemonetics had a return on equity of 27.42% and a net margin of 7.52%. The business had revenue of $357.76 million during the quarter, compared to the consensus estimate of $345.15 million. During the same period last year, the business posted $1.27 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that Haemonetics Corporation will post 5.32 EPS for the current year.

Analysts Set New Price Targets

HAE has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Haemonetics from $123.00 to $149.00 and gave the stock a "buy" rating in a report on Friday, November 6th. Raymond James Financial boosted their price objective on shares of Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. Barrington Research boosted their price objective on Haemonetics from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, November 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Haemonetics in a report on Wednesday, November 4th. Finally, Robert W. Baird increased their price target on Haemonetics from $96.00 to $119.00 and gave the company an "outperform" rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Haemonetics presently has an average rating of "Moderate Buy" and an average price target of $126.38.

Haemonetics Company Profile

Haemonetics Corporation is a global medical technology company focused on blood and plasma collection, processing and management. Its products and services are used by plasma collection organizations, blood centers and hospitals. The company provides automated plasma collection systems and related software and supplies, as well as technologies for collecting and processing blood components. Its hospital offerings include devices for surgical blood salvage and tools that help clinicians assess blood clotting and guide transfusion decisions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.