Arizona State Retirement System Decreases Holdings in Haemonetics Corporation (NYSE:HAE)

Arizona State Retirement System cut its holdings in shares of Haemonetics Corporation (NYSE:HAE) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,407 shares of the medical instruments supplier’s stock after selling 446 shares during the quarter. Arizona State Retirement System’s holdings in Haemonetics were worth $916,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its holdings in Haemonetics by 22.1% in the 1st quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier’s stock worth $71,070,000 after acquiring an additional 202,609 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Haemonetics by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier’s stock worth $77,470,000 after acquiring an additional 10,990 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Haemonetics by 20.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 966,167 shares of the medical instruments supplier’s stock worth $60,888,000 after acquiring an additional 165,118 shares during the last quarter. Northern Trust Corp increased its holdings in Haemonetics by 16.1% in the 4th quarter. Northern Trust Corp now owns 678,261 shares of the medical instruments supplier’s stock worth $52,959,000 after acquiring an additional 93,848 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its holdings in Haemonetics by 31.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 643,227 shares of the medical instruments supplier’s stock worth $50,223,000 after acquiring an additional 152,042 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Price Performance

Shares of Haemonetics stock opened at $72.55 on Monday. 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 business’s 50 day simple moving average is $71.63 and its two-hundred day simple moving average is $67.79. The stock has a market capitalization of $3.49 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.18 and a beta of 0.39. Haemonetics Corporation has a one year low of $55.30 and a one year high of $94.99.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results 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. The business had revenue of $330.60 million for the quarter, compared to analysts’ expectations of $329.38 million. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Analysts forecast that Haemonetics Corporation will post 4.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Haemonetics from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Citigroup raised Haemonetics from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a report on Wednesday, July 9th. Raymond James Financial reiterated a “strong-buy” rating and set a $105.00 price target (down previously from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. JMP Securities reiterated a “market outperform” rating and set a $100.00 price target on shares of Haemonetics in a research report on Tuesday, May 20th. Finally, Robert W. Baird started coverage on Haemonetics in a research report on Thursday, June 26th. They set an “outperform” rating and a $87.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Haemonetics presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.30.

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.