The Manufacturers Life Insurance Company Buys 255,338 Shares of Haemonetics Co. (NYSE:HAE)

The Manufacturers Life Insurance Company lifted its position in shares of Haemonetics Co. (NYSE:HAE - Free Report) by 434.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,067 shares of the medical instruments supplier's stock after purchasing an additional 255,338 shares during the period. The Manufacturers Life Insurance Company owned about 0.63% of Haemonetics worth $24,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in shares of Haemonetics during the fourth quarter worth approximately $25,000. Covestor Ltd boosted 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 valued at $58,000 after purchasing an additional 439 shares during the period. Whittier Trust Co. purchased a new position in Haemonetics in the 4th quarter worth about $62,000. Parkside Financial Bank & Trust raised its holdings in Haemonetics by 25.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier's stock worth $92,000 after buying an additional 240 shares during the period. Finally, AlphaQuest LLC lifted its stake in 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 buying an additional 1,826 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Price Performance

Shares of Haemonetics stock traded up $4.94 during trading on Thursday, reaching $69.19. The company's stock had a trading volume of 378,421 shares, compared to its average volume of 861,492. Haemonetics Co. has a one year low of $55.30 and a one year high of $97.97. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average price of $62.64 and a two-hundred day moving average price of $71.49. The stock has a market capitalization of $3.48 billion, a P/E ratio of 27.26, a price-to-earnings-growth 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 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, sell-side analysts anticipate that Haemonetics Co. will post 4.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HAE has been the subject of several research analyst reports. Needham & Company LLC reduced their price target on shares of Haemonetics from $108.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Bank of America lowered Haemonetics from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $95.00 to $68.00 in a research report on Friday, February 7th. Raymond James reaffirmed a "strong-buy" rating and set a $115.00 target price (down previously from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. JMP Securities reduced their price target on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating for the company in a research report on Friday, February 7th. Finally, Barrington Research lowered their price objective 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $101.22.

Haemonetics 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.