Harbor Capital Advisors Inc. Boosts Stock Position in Haemonetics Co. (NYSE:HAE)

Harbor Capital Advisors Inc. boosted its holdings in shares of Haemonetics Co. (NYSE:HAE) by 117.9% during the third quarter, Holdings Channel reports. The firm owned 56,164 shares of the medical instruments supplier’s stock after acquiring an additional 30,389 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Haemonetics were worth $4,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAE. Thrivent Financial for Lutherans increased its stake in shares of Haemonetics by 6,573.6% during the second quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock valued at $70,267,000 after buying an additional 836,623 shares during the period. Silvercrest Asset Management Group LLC bought a new position in Haemonetics in the 1st quarter worth $38,706,000. Mizuho Markets Americas LLC bought a new position in Haemonetics in the 2nd quarter worth $30,080,000. Allspring Global Investments Holdings LLC lifted its position in shares of Haemonetics by 75.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after purchasing an additional 343,214 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Haemonetics by 327.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock valued at $25,445,000 after purchasing an additional 235,535 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $71.48 on Monday. The business has a fifty day moving average price of $75.46 and a 200-day moving average price of $82.74. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. The company has a market capitalization of $3.66 billion, a PE ratio of 32.05, a PEG ratio of 1.11 and a beta of 0.32. Haemonetics Co. has a 1-year low of $70.25 and a 1-year high of $97.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). The firm had revenue of $336.17 million for the quarter, compared to the consensus estimate of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, equities analysts expect that Haemonetics Co. will post 4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HAE has been the subject of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Haemonetics in a research note on Tuesday, August 13th. Bank of America assumed coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price for the company. Barrington Research reaffirmed an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a research note on Monday, September 23rd. CL King initiated coverage on Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective for the company. Finally, Citigroup dropped their target price 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.14.

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.