M&T Bank Corp Acquires Shares of 3,812 Haemonetics Corporation (NYSE:HAE)

M&T Bank Corp acquired a new stake in Haemonetics Corporation (NYSE:HAE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,812 shares of the medical instruments supplier’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Haemonetics by 10.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,460 shares of the medical instruments supplier’s stock worth $973,000 after acquiring an additional 1,202 shares during the period. HighTower Advisors LLC raised its holdings in shares of Haemonetics by 7.8% during the 4th quarter. HighTower Advisors LLC now owns 3,353 shares of the medical instruments supplier’s stock worth $262,000 after acquiring an additional 244 shares during the period. Swiss National Bank raised its holdings in shares of Haemonetics by 1.2% during the 4th quarter. Swiss National Bank now owns 100,700 shares of the medical instruments supplier’s stock worth $7,863,000 after acquiring an additional 1,200 shares during the period. Natixis Advisors LLC purchased a new position in shares of Haemonetics during the 4th quarter worth $1,194,000. Finally, Cibc World Markets Corp purchased a new stake in Haemonetics in the 4th quarter valued at about $367,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Stock Performance

NYSE HAE opened at $72.55 on Friday. Haemonetics Corporation has a 1-year low of $55.30 and a 1-year high of $94.99. The company has a market cap of $3.49 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.19 and a beta of 0.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.62 and a quick ratio of 0.99. The stock has a 50-day moving average of $71.63 and a two-hundred day moving average of $67.93.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The business had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. During the same period in the previous year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts anticipate that Haemonetics Corporation will post 4.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Baird R W upgraded shares of Haemonetics to a “strong-buy” rating in a report on Wednesday, June 25th. JMP Securities restated a “market outperform” rating and issued a $100.00 price objective on shares of Haemonetics in a report on Tuesday, May 20th. Robert W. Baird assumed coverage on shares of Haemonetics in a report on Thursday, June 26th. They issued an “outperform” rating and a $87.00 price objective on the stock. Finally, Needham & Company LLC dropped their target price on Haemonetics from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Haemonetics presently has a consensus rating of “Moderate Buy” and an average target price of $97.30.

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.