Silvercrest Asset Management Group LLC Boosts Holdings in Haemonetics Co. (NYSE:HAE)

Silvercrest Asset Management Group LLC raised its stake in shares of Haemonetics Co. (NYSE:HAE - Free Report) by 31.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 643,227 shares of the medical instruments supplier's stock after purchasing an additional 152,042 shares during the period. Silvercrest Asset Management Group LLC owned 1.28% of Haemonetics worth $50,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAE. TD Waterhouse Canada Inc. purchased a new position in shares of Haemonetics during the 4th quarter valued at about $25,000. Covestor Ltd lifted its holdings in Haemonetics by 146.8% during the fourth quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock valued at $58,000 after purchasing an additional 439 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Haemonetics in the fourth quarter worth approximately $62,000. Parkside Financial Bank & Trust increased its stake in shares of Haemonetics by 25.6% in the fourth 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 in the last quarter. Finally, AlphaQuest LLC raised its position in shares of Haemonetics by 36,520.0% during the 4th 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 during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Analyst Upgrades and Downgrades

HAE has been the subject of several recent analyst reports. Bank of America downgraded shares of Haemonetics from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $95.00 to $68.00 in a report on Friday, February 7th. Barrington Research dropped their price objective on Haemonetics from $108.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Raymond James reissued a "strong-buy" rating and set a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a research note on Friday, May 9th. Needham & Company LLC dropped their price target on Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $100.00 price objective on shares of Haemonetics in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $97.89.

Haemonetics Price Performance

HAE traded down $2.04 during trading hours on Wednesday, hitting $66.87. The company's stock had a trading volume of 77,668 shares, compared to its average volume of 696,901. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 1.11 and a beta of 0.32. The business's 50-day moving average price is $63.05 and its 200-day moving average price is $71.18. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. Haemonetics Co. has a 12 month low of $55.30 and a 12 month high of $95.14.

Haemonetics (NYSE:HAE - Get Free Report) last posted its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $0.90 EPS. The business's quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts expect that Haemonetics Co. will post 4.55 earnings per share for the current fiscal 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.