Creative Planning Reduces Stock Holdings in Haemonetics Co. (NYSE:HAE)

Creative Planning lessened its stake in shares of Haemonetics Co. (NYSE:HAE) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,198 shares of the medical instruments supplier’s stock after selling 247 shares during the quarter. Creative Planning’s holdings in Haemonetics were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Haemonetics in the second quarter worth $39,000. Covestor Ltd grew its holdings in Haemonetics by 184.8% during the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after acquiring an additional 438 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Haemonetics during the 2nd quarter worth $82,000. Canada Pension Plan Investment Board acquired a new position in Haemonetics during the 2nd quarter worth $83,000. Finally, EntryPoint Capital LLC acquired a new position in Haemonetics during the 1st quarter worth $86,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Stock Performance

Shares of HAE stock opened at $87.46 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. The company has a market capitalization of $4.48 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 1.15 and a beta of 0.32. The company’s 50 day moving average price is $75.88 and its two-hundred day moving average price is $82.65. Haemonetics Co. has a 52 week low of $70.25 and a 52 week high of $97.97.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The company had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. During the same period last year, the company earned $0.99 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, analysts expect that Haemonetics Co. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. BTIG Research initiated coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target on the stock. Barrington Research reiterated an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a research report on Friday. Citigroup dropped their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Bank of America started coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target on the stock. Finally, Raymond James upgraded shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and an average price target of $107.88.

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.