Haemonetics Corporation $HAE Holdings Lowered by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Haemonetics stake by 34.1% in the third quarter, selling 199,793 shares; it retained 385,355 shares, worth about $40.6 million.
• Other institutional investors made mixed moves, while institutions and hedge funds collectively owned 99.67% of the company’s stock.
• Haemonetics topped quarterly earnings and revenue expectations, with revenue up 5.5% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $110.

Boston Trust Walden Corp decreased its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 34.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,355 shares of the medical instruments supplier's stock after selling 199,793 shares during the period. Boston Trust Walden Corp owned about 0.85% of Haemonetics worth $40,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vise Technologies Inc. acquired a new stake in Haemonetics in the third quarter valued at about $613,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Haemonetics by 178.6% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 11,700 shares of the medical instruments supplier's stock valued at $1,232,000 after buying an additional 7,500 shares during the period. VestGen Advisors LLC acquired a new stake in shares of Haemonetics in the 3rd quarter valued at approximately $2,901,000. SYM FINANCIAL Corp acquired a new stake in shares of Haemonetics in the 3rd quarter valued at approximately $216,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Haemonetics in the third quarter valued at approximately $256,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $127.40 on Thursday. The company has a market cap of $5.80 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.40 and a beta of 0.63. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. Haemonetics Corporation has a 52 week low of $49.96 and a 52 week high of $128.83. The business has a fifty day simple moving average of $110.86 and a 200-day simple moving average of $79.55.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. The firm had revenue of $339.38 million for the quarter, compared to the consensus estimate of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. Equities research analysts forecast that Haemonetics Corporation will post 5.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings raised Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Barrington Research raised their target price on shares of Haemonetics from $118.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, October 9th. Raymond James Financial lifted their target price on shares of Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Robert W. Baird upped their price target on shares of Haemonetics from $96.00 to $119.00 and gave the company an "outperform" rating in a report on Friday, August 21st. Finally, Wall Street Zen upgraded shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

Haemonetics Profile

Haemonetics Corporation NYSE: HAE is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company's offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.

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