The Manufacturers Life Insurance Company Grows Stake in Haemonetics Co. (NYSE:HAE)

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

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Haemonetics during the fourth quarter valued at $32,803,000. Voya Investment Management LLC grew its stake in shares of Haemonetics by 820.5% during the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock valued at $24,748,000 after purchasing an additional 282,521 shares during the period. Groupama Asset Managment purchased a new stake in shares of Haemonetics during the 4th quarter valued at about $19,520,000. Raymond James Financial Inc. bought a new position in shares of Haemonetics in the 4th quarter worth approximately $19,002,000. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Haemonetics by 14.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier's stock worth $98,716,000 after buying an additional 164,111 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on HAE shares. JMP Securities reduced their target price on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating for the company in a report on Friday, February 7th. Bank of America lowered Haemonetics from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $95.00 to $68.00 in a research note on Friday, February 7th. Barrington Research lowered their target price on Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. StockNews.com upgraded Haemonetics from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $115.00 price objective (down previously from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $101.22.

Haemonetics Price Performance

Shares of Haemonetics stock traded up $1.07 during trading hours on Wednesday, hitting $64.65. The company's stock had a trading volume of 447,362 shares, compared to its average volume of 691,355. The company has a market cap of $3.25 billion, a PE ratio of 25.48, a PEG ratio of 1.11 and a beta of 0.32. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97. The business has a 50 day moving average price of $62.67 and a two-hundred day moving average price of $71.54. Haemonetics Co. has a 12-month low of $55.30 and a 12-month high of $97.97.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. Analysts expect that Haemonetics Co. will post 4.55 earnings per share for the current fiscal year.

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.