Grandeur Peak Global Advisors LLC Sells 12,159 Shares of Haemonetics Corporation $HAE

Grandeur Peak Global Advisors LLC cut its stake in Haemonetics Corporation (NYSE:HAE) by 48.0% in the second quarter, HoldingsChannel reports. The fund owned 13,185 shares of the medical instruments supplier’s stock after selling 12,159 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Haemonetics were worth $989,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Haemonetics by 12.3% in the first quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier’s stock valued at $108,000 after purchasing an additional 211 shares in the last quarter. Quantinno Capital Management LP boosted its position in Haemonetics by 9.0% in the 2nd quarter. Quantinno Capital Management LP now owns 3,492 shares of the medical instruments supplier’s stock valued at $261,000 after buying an additional 289 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Haemonetics by 110.9% in the 4th quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier’s stock valued at $47,000 after buying an additional 306 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Haemonetics in the 4th quarter valued at $26,000. Finally, Leonteq Securities AG bought a new stake in shares of Haemonetics during the fourth quarter worth $30,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Stock Down 0.1%

NYSE:HAE opened at $103.83 on Monday. Haemonetics Corporation has a 12-month low of $47.31 and a 12-month high of $109.57. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $4.72 billion, a P/E ratio of 50.90, a P/E/G ratio of 2.08 and a beta of 0.52. The stock’s fifty day simple moving average is $84.89 and its 200-day simple moving average is $70.05.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Haemonetics Corporation will post 5.29 earnings per share for the current year.

Analysts Set New Price Targets

HAE has been the topic of several research reports. Citigroup upped their price target on Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Barrington Research boosted their price objective on Haemonetics from $95.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Mizuho upped their target price on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Wall Street Zen raised shares of Haemonetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Bank of America upgraded shares of Haemonetics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $72.00 to $80.00 in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.56.

About Haemonetics

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.