Allspring Global Investments Holdings LLC Acquires 286,897 Shares of Haemonetics Co. (NYSE:HAE)

Allspring Global Investments Holdings LLC grew its holdings in Haemonetics Co. (NYSE:HAE) by 132.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 502,993 shares of the medical instruments supplier’s stock after acquiring an additional 286,897 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.99% of Haemonetics worth $42,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. TFO Wealth Partners LLC boosted its holdings in Haemonetics by 29,450.0% in the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 589 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Haemonetics by 17.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock valued at $90,000 after buying an additional 156 shares during the period. LVZ Inc. grew its position in Haemonetics by 9.4% during the fourth quarter. LVZ Inc. now owns 3,006 shares of the medical instruments supplier’s stock worth $257,000 after buying an additional 259 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in Haemonetics by 7.4% during the fourth quarter. Contravisory Investment Management Inc. now owns 3,507 shares of the medical instruments supplier’s stock valued at $300,000 after acquiring an additional 242 shares during the period. Finally, AlphaMark Advisors LLC acquired a new position in Haemonetics in the 1st quarter valued at approximately $304,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HAE shares. JMP Securities lifted their price objective on Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Friday, May 10th. StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Needham & Company LLC upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Wednesday, June 12th. Finally, Barrington Research lifted their target price on shares of Haemonetics from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.50.

Insider Transactions at Haemonetics

In other Haemonetics news, insider Stewart W. Strong sold 8,857 shares of Haemonetics stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total value of $775,253.21. Following the completion of the transaction, the insider now owns 18,196 shares in the company, valued at approximately $1,592,695.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Haemonetics news, insider Stewart W. Strong sold 8,857 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $87.53, for a total value of $775,253.21. Following the completion of the transaction, the insider now directly owns 18,196 shares of the company’s stock, valued at $1,592,695.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Anila Lingamneni sold 2,305 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $95.00, for a total transaction of $218,975.00. Following the transaction, the executive vice president now owns 12,295 shares in the company, valued at $1,168,025. The disclosure for this sale can be found here. Insiders have sold 27,380 shares of company stock valued at $2,445,816 in the last three months. 1.80% of the stock is owned by corporate insiders.

Haemonetics Stock Performance

Haemonetics stock opened at $84.18 on Thursday. Haemonetics Co. has a 52-week low of $70.74 and a 52-week high of $97.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50. The stock has a fifty day moving average price of $88.80 and a two-hundred day moving average price of $83.56. The firm has a market capitalization of $4.29 billion, a P/E ratio of 36.76, a P/E/G ratio of 1.51 and a beta of 0.29.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. The firm had revenue of $343.00 million during the quarter, compared to the consensus estimate of $329.53 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. As a group, analysts anticipate that Haemonetics Co. will post 4.57 EPS for the current fiscal year.

Haemonetics 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.