Schwartz Investment Counsel Inc. Purchases 223,500 Shares of Haemonetics Corporation (NYSE:HAE)

Schwartz Investment Counsel Inc. raised its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 148.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,500 shares of the medical instruments supplier's stock after purchasing an additional 223,500 shares during the quarter. Schwartz Investment Counsel Inc. owned about 0.75% of Haemonetics worth $23,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HAE. TD Waterhouse Canada Inc. acquired a new stake in Haemonetics in the 4th quarter valued at approximately $25,000. Covestor Ltd grew its stake 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 purchasing an additional 439 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Haemonetics during the fourth quarter valued at $62,000. Parkside Financial Bank & Trust increased its holdings in shares of Haemonetics by 25.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier's stock valued at $92,000 after purchasing an additional 240 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Haemonetics by 36,520.0% during the fourth quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier's stock valued at $143,000 after purchasing an additional 1,826 shares in the last quarter. Institutional investors own 99.67% of the company's stock.

Haemonetics Stock Up 2.4%

NYSE HAE traded up $1.78 during trading on Tuesday, reaching $76.39. 679,395 shares of the company's stock were exchanged, compared to its average volume of 669,814. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 1.12. Haemonetics Corporation has a fifty-two week low of $55.30 and a fifty-two week high of $94.99. The company's fifty day simple moving average is $68.16 and its 200-day simple moving average is $68.02. The firm has a market capitalization of $3.67 billion, a PE ratio of 23.08, a P/E/G ratio of 1.20 and a beta of 0.36.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. The business had revenue of $330.60 million during the quarter, compared to analysts' expectations of $329.38 million. Haemonetics had a net margin of 12.32% and a return on equity of 26.37%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. Sell-side analysts predict that Haemonetics Corporation will post 4.55 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on HAE. 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 price objective for the company. Needham & Company LLC cut their target price on Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Baird R W raised Haemonetics to a "strong-buy" rating in a research note on Wednesday, June 25th. Wall Street Zen downgraded Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, JMP Securities restated a "market outperform" rating and issued a $100.00 price objective on shares of Haemonetics in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.80.

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.