Vestcor Inc Sells 3,512 Shares of Haemonetics Corporation (NYSE:HAE)

Key Points

• Vestcor Inc has reduced its stake in Haemonetics Corporation by 48.2%, holding 3,779 shares after selling 3,512 shares in the 1st quarter.
• Haemonetics has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and a price target of $97.30.
• The company reported $1.24 earnings per share during its last quarter, exceeding analysts' expectations, although revenue was down 3.5% from the same quarter last year.

Vestcor Inc trimmed its holdings in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 48.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,779 shares of the medical instruments supplier's stock after selling 3,512 shares during the period. Vestcor Inc's holdings in Haemonetics were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new position in Haemonetics in the 4th quarter valued at $25,000. Covestor Ltd boosted its position in Haemonetics by 146.8% in the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock valued at $58,000 after buying an additional 439 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Haemonetics in the 1st quarter valued at $65,000. KBC Group NV boosted its position in Haemonetics by 19.9% in the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock valued at $154,000 after buying an additional 401 shares during the last quarter. Finally, Vise Technologies Inc. boosted its position in Haemonetics by 8.7% in the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock valued at $221,000 after buying an additional 225 shares during the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on HAE. Raymond James Financial reiterated a "strong-buy" rating and issued a $105.00 price objective (down from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and issued a $68.00 price target (down previously from $84.00) on shares of Haemonetics in a research note on Thursday. Mizuho lowered their target price on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday. JMP Securities reiterated a "market outperform" rating and set a $100.00 price target on shares of Haemonetics in a report on Tuesday, May 20th. Finally, Citigroup upgraded Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.64.

Haemonetics Price Performance

Shares of NYSE:HAE traded down $1.42 during trading on Friday, hitting $54.22. 1,250,288 shares of the company were exchanged, compared to its average volume of 773,683. The business's 50 day moving average is $73.41 and its 200-day moving average is $67.71. The company has a market capitalization of $2.60 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.23 and a beta of 0.40. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 1.12. Haemonetics Corporation has a 1-year low of $53.25 and a 1-year high of $94.99.

Haemonetics (NYSE:HAE - Get Free Report) last announced 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. The company had revenue of $321.39 million during the quarter, compared to the consensus estimate of $305.12 million. Haemonetics had a net margin of 12.32% and a return on equity of 26.37%. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. Equities analysts forecast that Haemonetics Corporation will post 4.55 earnings per share 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.