Pacer Advisors Inc. Boosts Stake in Haemonetics Co. (NYSE:HAE)

Pacer Advisors Inc. increased its position in Haemonetics Co. (NYSE:HAE) by 36.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,104 shares of the medical instruments supplier’s stock after acquiring an additional 2,680 shares during the period. Pacer Advisors Inc.’s holdings in Haemonetics were worth $789,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Haemonetics by 9.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after purchasing an additional 363,702 shares during the period. Royce & Associates LP raised its position in Haemonetics by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier’s stock valued at $97,304,000 after purchasing an additional 30,868 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Haemonetics by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock worth $95,986,000 after acquiring an additional 21,547 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Haemonetics by 29.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock worth $88,433,000 after buying an additional 250,833 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Haemonetics by 10.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 823,663 shares of the medical instruments supplier’s stock worth $66,206,000 after buying an additional 80,783 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Haemonetics Price Performance

Shares of HAE opened at $66.15 on Tuesday. Haemonetics Co. has a twelve month low of $65.73 and a twelve month high of $97.97. The stock’s 50 day moving average is $78.61 and its two-hundred day moving average is $79.07. The firm has a market capitalization of $3.32 billion, a PE ratio of 27.45, a P/E/G ratio of 1.07 and a beta of 0.39. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39.

Haemonetics (NYSE:HAE) last announced its quarterly 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 business had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. During the same quarter last year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts anticipate that Haemonetics Co. will post 4.59 earnings per share for the current year.

Analysts Set New Price Targets

HAE has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $112.00 price target on shares of Haemonetics in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. initiated coverage on Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 target price for the company. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research report on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.78.

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.