Harbor Capital Advisors Inc. Decreases Stock Holdings in Haemonetics Co. (NYSE:HAE)

Harbor Capital Advisors Inc. reduced its position in Haemonetics Co. (NYSE:HAE) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,354 shares of the medical instruments supplier’s stock after selling 5,810 shares during the period. Harbor Capital Advisors Inc. owned 0.10% of Haemonetics worth $3,932,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HAE. Nordea Investment Management AB boosted its position in shares of Haemonetics by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 104,175 shares of the medical instruments supplier’s stock worth $8,152,000 after purchasing an additional 5,385 shares in the last quarter. Geode Capital Management LLC raised its stake in Haemonetics by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock valued at $95,986,000 after buying an additional 21,547 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Haemonetics in the third quarter worth about $382,000. XTX Topco Ltd grew its stake in shares of Haemonetics by 84.9% during the third quarter. XTX Topco Ltd now owns 8,450 shares of the medical instruments supplier’s stock worth $679,000 after acquiring an additional 3,880 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in shares of Haemonetics by 11.5% during the third quarter. Zacks Investment Management now owns 16,921 shares of the medical instruments supplier’s stock valued at $1,360,000 after acquiring an additional 1,740 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HAE. JPMorgan Chase & Co. started coverage on shares of Haemonetics in a research note on Friday, December 6th. They set an “overweight” rating and a $116.00 price target on the stock. CL King assumed coverage on shares of Haemonetics in a report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $112.00 target price on shares of Haemonetics in a research note on Tuesday, December 3rd. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research note on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.78.

Haemonetics Stock Performance

Shares of NYSE HAE opened at $76.70 on Friday. The company has a market capitalization of $3.85 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.26 and a beta of 0.41. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The company’s fifty day moving average price is $82.45 and its 200 day moving average price is $80.52. Haemonetics Co. has a 1 year low of $70.25 and a 1 year high of $97.97.

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