Van ECK Associates Corp Buys Shares of 39,620 Haemonetics Co. (NYSE:HAE)

Van ECK Associates Corp bought a new stake in shares of Haemonetics Co. (NYSE:HAE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 39,620 shares of the medical instruments supplier’s stock, valued at approximately $3,094,000. Van ECK Associates Corp owned 0.08% of Haemonetics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAE. Nisa Investment Advisors LLC increased its holdings in shares of Haemonetics by 124.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 632 shares during the period. KBC Group NV increased its holdings in shares of Haemonetics by 54.6% in the fourth quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 712 shares during the period. iSAM Funds UK Ltd bought a new position in shares of Haemonetics in the third quarter worth $204,000. CWC Advisors LLC. bought a new position in shares of Haemonetics in the third quarter worth $231,000. Finally, Versor Investments LP increased its holdings in shares of Haemonetics by 9.1% in the third quarter. Versor Investments LP now owns 3,600 shares of the medical instruments supplier’s stock worth $289,000 after purchasing an additional 300 shares during the period. Institutional investors own 99.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HAE. StockNews.com cut shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Barrington Research cut their target price on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. JMP Securities cut their target price on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research report on Friday, February 7th. Bank of America lowered shares of Haemonetics from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $95.00 to $68.00 in a research report on Friday, February 7th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $115.00 target price (down from $120.00) on shares of Haemonetics in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.67.

Haemonetics Stock Performance

Haemonetics stock opened at $63.36 on Friday. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. The firm has a 50-day moving average of $72.98 and a 200-day moving average of $76.76. The firm has a market cap of $3.18 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.12 and a beta of 0.39. Haemonetics Co. has a 1-year low of $58.80 and a 1-year high of $97.97.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. Sell-side analysts expect that Haemonetics Co. will post 4.55 EPS for the current year.

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.