Lazard Asset Management LLC Sells 7,509,830 Shares of Haemonetics Co. (NYSE:HAE)

Lazard Asset Management LLC trimmed its stake in Haemonetics Co. (NYSE:HAE - Free Report) by 99.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,936 shares of the medical instruments supplier's stock after selling 7,509,830 shares during the quarter. Lazard Asset Management LLC's holdings in Haemonetics were worth $1,712,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. LMR Partners LLP acquired a new stake in Haemonetics in the fourth quarter worth $2,059,000. London Co. of Virginia grew its holdings in Haemonetics by 2.2% in the fourth quarter. London Co. of Virginia now owns 281,738 shares of the medical instruments supplier's stock worth $21,998,000 after purchasing an additional 6,111 shares during the period. Janus Henderson Group PLC grew its holdings in Haemonetics by 29.9% in the fourth quarter. Janus Henderson Group PLC now owns 60,436 shares of the medical instruments supplier's stock worth $4,720,000 after purchasing an additional 13,920 shares during the period. Expect Equity LLC acquired a new stake in Haemonetics in the fourth quarter worth $1,101,000. Finally, Crestline Management LP grew its holdings in Haemonetics by 14.8% in the fourth quarter. Crestline Management LP now owns 5,801 shares of the medical instruments supplier's stock worth $453,000 after purchasing an additional 747 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HAE has been the subject of a number of analyst reports. Raymond James reiterated a "strong-buy" rating and set a $105.00 price objective (down from $115.00) on shares of Haemonetics in a report on Friday, May 9th. Bank of America cut shares of Haemonetics from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $95.00 to $68.00 in a report on Friday, February 7th. StockNews.com cut shares of Haemonetics from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barrington Research reduced their price objective on shares of Haemonetics from $108.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, JMP Securities reduced their price objective on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating for the company in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Haemonetics currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.89.

Haemonetics Stock Up 1.5%

Haemonetics stock opened at $70.41 on Monday. Haemonetics Co. has a fifty-two week low of $55.30 and a fifty-two week high of $95.53. The stock has a market cap of $3.54 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.11 and a beta of 0.32. The firm's 50-day simple moving average is $62.92 and its 200 day simple moving average is $71.21. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. The business had revenue of $330.60 million for the quarter, compared to analysts' expectations of $329.38 million. During the same period in the previous year, the company earned $0.90 earnings per share. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts predict that Haemonetics Co. will post 4.55 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.