Principal Financial Group Inc. Has $12.48 Million Holdings in Haemonetics Co. (NYSE:HAE)

Principal Financial Group Inc. decreased its holdings in shares of Haemonetics Co. (NYSE:HAE) by 19.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,259 shares of the medical instruments supplier’s stock after selling 37,433 shares during the quarter. Principal Financial Group Inc. owned approximately 0.31% of Haemonetics worth $12,480,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Quarry LP bought a new position in Haemonetics during the second quarter worth about $39,000. Daiwa Securities Group Inc. acquired a new position in shares of Haemonetics during the 2nd quarter worth approximately $82,000. Canada Pension Plan Investment Board bought a new stake in Haemonetics in the 2nd quarter valued at $83,000. Nisa Investment Advisors LLC lifted its holdings in Haemonetics by 124.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after purchasing an additional 632 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Haemonetics during the second quarter worth $140,000. Institutional investors own 99.67% of the company’s stock.

Haemonetics Trading Down 1.6 %

Shares of HAE stock opened at $77.57 on Monday. The stock has a market cap of $3.90 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.38. Haemonetics Co. has a 1 year low of $70.25 and a 1 year high of $97.97. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The stock has a 50 day simple moving average of $81.59 and a 200 day simple moving average of $80.97.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The firm had revenue of $345.50 million during the quarter, compared to the consensus estimate of $342.57 million. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Haemonetics Co. will post 4.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HAE. Needham & Company LLC reissued a “buy” rating and issued a $112.00 price objective on shares of Haemonetics in a research report on Tuesday, December 3rd. Barrington Research reissued an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a report on Wednesday, December 4th. 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 objective for the company. CL King assumed coverage on Haemonetics in a research report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Finally, BTIG Research initiated coverage on Haemonetics in a report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target for the company. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.78.

Haemonetics Company 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.