Mizuho Markets Americas LLC Sells 83,716 Shares of Haemonetics Corporation (NYSE:HAE)

Key Points

• Mizuho Markets Americas LLC reduced its holdings in Haemonetics Corporation by 23.7%, selling 83,716 shares and retaining a total of 269,262 shares valued at $17.1 million.
• Haemonetics reported a quarterly earnings per share (EPS) of $1.10, beating estimates by $0.09, with a total revenue of $321.39 million for the quarter.
• Analyst ratings for Haemonetics include a consensus of "Moderate Buy", with a target price averaging $87.64, despite some recent downward adjustments in price targets by various firms.

Mizuho Markets Americas LLC cut its holdings in Haemonetics Corporation (NYSE:HAE - Free Report) by 23.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 269,262 shares of the medical instruments supplier's stock after selling 83,716 shares during the period. Mizuho Markets Americas LLC owned approximately 0.54% of Haemonetics worth $17,112,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of HAE. TD Waterhouse Canada Inc. acquired a new stake in Haemonetics during the fourth quarter worth about $25,000. Covestor Ltd lifted its holdings in shares of Haemonetics by 146.8% in the fourth quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock worth $58,000 after acquiring an additional 439 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Haemonetics in the first quarter worth about $65,000. KBC Group NV lifted its holdings in shares of Haemonetics by 19.9% in the first quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock worth $154,000 after acquiring an additional 401 shares during the last quarter. Finally, Vise Technologies Inc. lifted its holdings in shares of Haemonetics by 8.7% in the fourth quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock worth $221,000 after acquiring an additional 225 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on HAE shares. Robert W. Baird started coverage on shares of Haemonetics in a report on Thursday, June 26th. They issued an "outperform" rating and a $87.00 target price for the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $62.00 price objective (down previously from $85.00) on shares of Haemonetics in a research report on Friday, August 8th. Citigroup upgraded Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Wednesday, July 9th. Mizuho reduced their price objective on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Raymond James Financial lowered shares of Haemonetics from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $105.00 to $78.00 in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Haemonetics currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.18.

Haemonetics Trading Down 3.5%

Haemonetics stock traded down $1.88 during mid-day trading on Thursday, hitting $52.00. 787,356 shares of the stock were exchanged, compared to its average volume of 794,889. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. Haemonetics Corporation has a 12 month low of $50.68 and a 12 month high of $94.99. The firm's fifty day simple moving average is $71.89 and its two-hundred day simple moving average is $67.04. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.96 and a beta of 0.40.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The firm had revenue of $321.39 million during the quarter, compared to analyst estimates of $305.12 million. During the same quarter last year, the business earned $1.02 EPS. The company's revenue was down 4.4% compared to the same quarter last year. 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.