Connor Clark & Lunn Investment Management Ltd. Raises Position in Haemonetics Co. (NYSE:HAE)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Haemonetics Co. (NYSE:HAE) by 439.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,453 shares of the medical instruments supplier’s stock after buying an additional 179,621 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Haemonetics were worth $17,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP purchased a new stake in Haemonetics in the second quarter valued at approximately $39,000. Covestor Ltd raised its position in shares of Haemonetics by 184.8% in the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 438 shares during the period. Daiwa Securities Group Inc. acquired a new position in Haemonetics in the second quarter valued at $82,000. Canada Pension Plan Investment Board purchased a new stake in Haemonetics during the second quarter valued at about $83,000. Finally, EntryPoint Capital LLC acquired a new position in Haemonetics during the first quarter valued at approximately $86,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barrington Research reissued an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $112.00 target price on shares of Haemonetics in a research report on Friday, November 15th. Citigroup cut their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Bank of America began coverage on Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target on the stock. Finally, CL King assumed coverage on shares of Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.88.

Haemonetics Trading Up 0.1 %

Shares of NYSE HAE opened at $84.92 on Thursday. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.39 and a beta of 0.32. The business has a 50 day simple moving average of $78.32 and a 200 day simple moving average of $82.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. Haemonetics Co. has a 52 week low of $70.25 and a 52 week high of $97.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. Haemonetics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. On average, research analysts predict that Haemonetics Co. will post 4.59 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.