Silvercrest Asset Management Group LLC Increases Stock Position in Haemonetics Co. (NYSE:HAE)

Silvercrest Asset Management Group LLC lifted its holdings in shares of Haemonetics Co. (NYSE:HAE) by 31.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 643,227 shares of the medical instruments supplier’s stock after acquiring an additional 152,042 shares during the period. Silvercrest Asset Management Group LLC owned 1.28% of Haemonetics worth $50,223,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HAE. Norges Bank purchased a new position in shares of Haemonetics during the fourth quarter worth approximately $32,803,000. Voya Investment Management LLC grew its position in Haemonetics by 820.5% in the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier’s stock valued at $24,748,000 after buying an additional 282,521 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Haemonetics by 434.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier’s stock valued at $24,522,000 after buying an additional 255,338 shares during the last quarter. Groupama Asset Managment purchased a new position in Haemonetics in the 4th quarter valued at $19,520,000. Finally, Raymond James Financial Inc. purchased a new position in Haemonetics in the 4th quarter valued at $19,002,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HAE has been the topic of a number of analyst reports. Bank of America lowered shares of Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $95.00 to $68.00 in a research report on Friday, February 7th. JMP Securities lowered their price objective on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC lowered their price objective on shares of Haemonetics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Raymond James restated a “strong-buy” rating and set a $105.00 target price (down from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Finally, Barrington Research decreased their target price on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.89.

Haemonetics Trading Up 1.0%

Shares of HAE stock opened at $69.36 on Friday. The firm has a 50-day moving average price of $62.88 and a 200 day moving average price of $71.24. Haemonetics Co. has a twelve month low of $55.30 and a twelve month high of $96.14. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.11 and a beta of 0.32. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. The company had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Research analysts forecast that Haemonetics Co. will post 4.55 earnings per share for the current fiscal 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.