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

Lazard Asset Management LLC cut its holdings in shares of Haemonetics Co. (NYSE:HAE - Free Report) by 99.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,936 shares of the medical instruments supplier's stock after selling 7,509,830 shares during the period. Lazard Asset Management LLC's holdings in Haemonetics were worth $1,712,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. TD Waterhouse Canada Inc. acquired a new position in shares of Haemonetics in the 4th quarter worth approximately $25,000. Covestor Ltd lifted its position in shares of Haemonetics by 146.8% in the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock worth $58,000 after purchasing an additional 439 shares during the period. Whittier Trust Co. acquired a new position in shares of Haemonetics in the 4th quarter worth approximately $62,000. Parkside Financial Bank & Trust lifted its position in shares of Haemonetics by 25.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier's stock worth $92,000 after purchasing an additional 240 shares during the period. Finally, AlphaQuest LLC lifted its position in shares of Haemonetics by 36,520.0% in the 4th quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier's stock worth $143,000 after purchasing an additional 1,826 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Stock Down 0.1%

HAE traded down $0.06 during trading on Friday, hitting $66.10. 356,407 shares of the company's stock were exchanged, compared to its average volume of 683,601. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35. The business's 50 day moving average is $63.13 and its two-hundred day moving average is $70.99. Haemonetics Co. has a fifty-two week low of $55.30 and a fifty-two week high of $94.99. The stock has a market cap of $3.32 billion, a P/E ratio of 26.02, a PEG ratio of 1.11 and a beta of 0.32.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $330.60 million for the quarter, compared to the consensus estimate of $329.38 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The business's revenue was down 3.5% on a year-over-year basis. As a group, equities analysts expect that Haemonetics Co. will post 4.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HAE shares. Raymond James restated a "strong-buy" rating and issued a $105.00 price target (down previously from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. JMP Securities restated a "market outperform" rating and issued a $100.00 price target on shares of Haemonetics in a research report on Tuesday. Wall Street Zen downgraded shares of Haemonetics from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Needham & Company LLC dropped their price target on shares of Haemonetics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Barrington Research dropped their target price on shares of Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.89.

About Haemonetics

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.