Haemonetics Corporation $HAE Stock: William Blair Investment Management LLC Cuts Stake

William Blair Investment Management LLC lessened its holdings in Haemonetics Corporation (NYSE:HAE) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 271,482 shares of the medical instruments supplier’s stock after selling 60,593 shares during the period. William Blair Investment Management LLC owned 0.60% of Haemonetics worth $28,587,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its holdings in Haemonetics by 104.5% during the third quarter. Fortitude Family Office LLC now owns 272 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 139 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Haemonetics during the 3rd quarter worth about $40,000. Kelleher Financial Advisors bought a new stake in shares of Haemonetics during the 2nd quarter worth about $38,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Haemonetics during the 2nd quarter valued at about $44,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Haemonetics during the 2nd quarter valued at about $54,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Stock Performance

Shares of NYSE:HAE traded up $0.45 during midday trading on Friday, hitting $123.16. The company’s stock had a trading volume of 439,677 shares, compared to its average volume of 686,811. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.83 and a current ratio of 2.84. The stock’s 50 day simple moving average is $113.34 and its 200 day simple moving average is $81.36. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 55.23, a PEG ratio of 2.45 and a beta of 0.63. Haemonetics Corporation has a fifty-two week low of $51.00 and a fifty-two week high of $132.00.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.06. Haemonetics had a return on equity of 27.42% and a net margin of 7.52%. The business had revenue of $357.76 million during the quarter, compared to analysts’ expectations of $345.15 million. During the same quarter in the previous year, the firm earned $1.27 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Haemonetics Corporation will post 5.32 earnings per share for the current year.

Insiders Place Their Bets

In other Haemonetics news, CAO Farris Maryanne Maunsell sold 836 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $120.99, for a total value of $101,147.64. Following the completion of the sale, the chief accounting officer directly owned 5,828 shares of the company’s stock, valued at $705,129.72. This represents a 12.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HAE has been the subject of several analyst reports. Robert W. Baird boosted their target price on Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Raymond James Financial increased their price target on Haemonetics from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Barrington Research lifted their price target on shares of Haemonetics from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Jefferies Financial Group began coverage on shares of Haemonetics in a research report on Friday. They issued a “buy” rating and a $150.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Haemonetics from $62.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Haemonetics Profile

Haemonetics Corporation is a global medical technology company focused on blood and plasma collection, processing and management. Its products and services are used by plasma collection organizations, blood centers and hospitals. The company provides automated plasma collection systems and related software and supplies, as well as technologies for collecting and processing blood components. Its hospital offerings include devices for surgical blood salvage and tools that help clinicians assess blood clotting and guide transfusion decisions.