HealthCor Management L.P. decreased its position in shares of Haemonetics Co. (NYSE:HAE) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,450,000 shares of the medical instruments supplier’s stock after selling 2,343 shares during the quarter. Haemonetics accounts for approximately 2.7% of HealthCor Management L.P.’s investment portfolio, making the stock its 14th largest holding. HealthCor Management L.P. owned 2.71% of Haemonetics worth $84,216,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in Haemonetics by 2,845.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,885 shares of the medical instruments supplier’s stock valued at $110,000 after acquiring an additional 1,821 shares during the period. CIBC Asset Management Inc acquired a new position in Haemonetics in the fourth quarter valued at approximately $210,000. Everence Capital Management Inc. acquired a new position in Haemonetics in the fourth quarter valued at approximately $212,000. First Allied Advisory Services Inc. acquired a new position in Haemonetics in the fourth quarter valued at approximately $220,000. Finally, Dean Capital Investments Management LLC acquired a new position in Haemonetics in the fourth quarter valued at approximately $246,000. 99.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Haemonetics Co. (HAE) opened at $73.96 on Monday. The company has a market capitalization of $3,952.98, a P/E ratio of -217.52, a PEG ratio of 3.66 and a beta of 0.92. Haemonetics Co. has a 12-month low of $38.43 and a 12-month high of $74.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.82 and a quick ratio of 1.33.
Haemonetics announced that its Board of Directors has approved a stock buyback program on Tuesday, February 6th that permits the company to buyback $260.00 million in shares. This buyback authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, Director Mark W. Kroll sold 7,118 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.00, for a total value of $448,434.00. Following the completion of the sale, the director now directly owns 33,881 shares in the company, valued at $2,134,503. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michelle L. Basil sold 389 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $72.23, for a total value of $28,097.47. The disclosure for this sale can be found here. Insiders sold 7,621 shares of company stock valued at $484,766 over the last 90 days. Company insiders own 1.20% of the company’s stock.
HAE has been the subject of a number of analyst reports. Zacks Investment Research raised Haemonetics from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, January 9th. Morgan Stanley raised Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a report on Tuesday, January 2nd. JMP Securities reissued an “outperform” rating and issued a $72.00 price target on shares of Haemonetics in a report on Wednesday, February 7th. Raymond James Financial raised Haemonetics from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Finally, Jefferies Group boosted their price target on Haemonetics from $18.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $71.33.
Haemonetics Company Profile
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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