State of Tennessee Department of Treasury Cuts Position in Haemonetics Co. (NYSE:HAE)

State of Tennessee Department of Treasury decreased its position in shares of Haemonetics Co. (NYSE:HAE) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,541 shares of the medical instruments supplier’s stock after selling 946 shares during the period. State of Tennessee Department of Treasury’s holdings in Haemonetics were worth $2,619,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. bought a new stake in Haemonetics in the 4th quarter worth approximately $25,000. Tower Research Capital LLC TRC raised its stake in shares of Haemonetics by 45.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,448 shares of the medical instruments supplier’s stock worth $347,000 after acquiring an additional 1,399 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Haemonetics by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 57,766 shares of the medical instruments supplier’s stock worth $4,510,000 after acquiring an additional 3,241 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Haemonetics by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier’s stock worth $77,470,000 after acquiring an additional 10,990 shares during the last quarter. Finally, Zacks Investment Management boosted its stake in shares of Haemonetics by 14.9% in the 4th quarter. Zacks Investment Management now owns 19,443 shares of the medical instruments supplier’s stock valued at $1,518,000 after purchasing an additional 2,522 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Haemonetics Price Performance

Shares of Haemonetics stock opened at $62.53 on Monday. The business has a 50 day moving average of $62.83 and a 200 day moving average of $72.11. Haemonetics Co. has a 52 week low of $55.30 and a 52 week high of $97.97. The company has a market cap of $3.14 billion, a PE ratio of 24.62, a P/E/G ratio of 1.11 and a beta of 0.41. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. As a group, equities research analysts forecast that Haemonetics Co. will post 4.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HAE. JMP Securities decreased their target price on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Friday, February 7th. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price objective (down previously from $120.00) on shares of Haemonetics in a report on Friday, February 7th. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Needham & Company LLC decreased their price target on Haemonetics from $108.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $95.00 to $68.00 in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.22.

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.