Bank of New York Mellon Corp cut its stake in shares of Haemonetics Co. (NYSE:HAE) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 664,964 shares of the medical instruments supplier’s stock after selling 17,462 shares during the quarter. Bank of New York Mellon Corp owned 1.24% of Haemonetics worth $38,622,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in shares of Haemonetics by 2,845.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,885 shares of the medical instruments supplier’s stock worth $110,000 after acquiring an additional 1,821 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Haemonetics during the 4th quarter worth $210,000. Everence Capital Management Inc. bought a new stake in shares of Haemonetics during the 4th quarter worth $212,000. First Allied Advisory Services Inc. bought a new stake in shares of Haemonetics during the 4th quarter worth $220,000. Finally, Dean Capital Investments Management LLC bought a new stake in shares of Haemonetics during the 4th quarter worth $246,000. 99.91% of the stock is owned by institutional investors and hedge funds.
Shares of Haemonetics Co. (NYSE HAE) opened at $73.90 on Tuesday. The stock has a market capitalization of $3,950.00, a price-to-earnings ratio of -211.14, a PEG ratio of 3.66 and a beta of 0.92. Haemonetics Co. has a 1-year low of $38.43 and a 1-year high of $74.41. The company has a quick ratio of 1.33, a current ratio of 1.82 and a debt-to-equity ratio of 0.14.
Haemonetics announced that its Board of Directors has initiated 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 usually an indication that the company’s management believes its shares are undervalued.
In other news, EVP Michelle L. Basil sold 389 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $72.23, for a total value of $28,097.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark W. Kroll sold 7,118 shares of the stock in a transaction on Tuesday, January 2nd. The shares were 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 owns 33,881 shares of the company’s stock, valued at approximately $2,134,503. The disclosure for this sale can be found here. Insiders sold 7,621 shares of company stock valued at $484,766 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.
HAE has been the subject of several research reports. JMP Securities reissued an “outperform” rating and set a $72.00 price objective on shares of Haemonetics in a research note on Wednesday, February 7th. TheStreet lowered Haemonetics from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Zacks Investment Research raised Haemonetics from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Friday, February 9th. Morgan Stanley raised Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, Raymond James Financial upgraded Haemonetics from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $71.33.
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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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