Federated Hermes Inc. Cuts Stock Holdings in Haemonetics Co. (NYSE:HAE)

Federated Hermes Inc. reduced its stake in Haemonetics Co. (NYSE:HAE) by 7.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,348 shares of the medical instruments supplier’s stock after selling 2,559 shares during the quarter. Federated Hermes Inc.’s holdings in Haemonetics were worth $2,759,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HAE. Capital Research Global Investors raised its holdings in shares of Haemonetics by 2.3% in the first quarter. Capital Research Global Investors now owns 6,674,751 shares of the medical instruments supplier’s stock valued at $569,690,000 after purchasing an additional 151,183 shares during the last quarter. Vanguard Group Inc. grew its position in Haemonetics by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,406,309 shares of the medical instruments supplier’s stock worth $462,293,000 after purchasing an additional 25,451 shares in the last quarter. Wellington Management Group LLP increased its stake in Haemonetics by 3.2% in the 4th quarter. Wellington Management Group LLP now owns 3,268,083 shares of the medical instruments supplier’s stock valued at $279,454,000 after buying an additional 101,029 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Haemonetics by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 826,731 shares of the medical instruments supplier’s stock worth $70,697,000 after buying an additional 59,670 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Haemonetics by 27.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after buying an additional 152,098 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $75.06 on Friday. The firm has a market capitalization of $3.82 billion, a PE ratio of 32.78, a P/E/G ratio of 1.32 and a beta of 0.30. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average price of $80.53 and a two-hundred day moving average price of $83.95. Haemonetics Co. has a twelve month low of $70.74 and a twelve month high of $97.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $1.02 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.01). Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The business had revenue of $336.17 million during the quarter, compared to the consensus estimate of $335.08 million. During the same period last year, the business posted $1.05 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that Haemonetics Co. will post 4.58 EPS for the current year.

Insider Activity

In related news, EVP Anila Lingamneni sold 2,136 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $90.00, for a total transaction of $192,240.00. Following the sale, the executive vice president now owns 21,410 shares of the company’s stock, valued at approximately $1,926,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anila Lingamneni sold 2,136 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $90.00, for a total transaction of $192,240.00. Following the sale, the executive vice president now directly owns 21,410 shares in the company, valued at $1,926,900. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stewart W. Strong sold 4,312 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on HAE shares. BTIG Research began coverage on Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target for the company. Bank of America began coverage on Haemonetics in a research note on Wednesday, September 11th. They set a “neutral” rating and a $85.00 target price on the stock. CL King initiated coverage on shares of Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price target for the company. JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a report on Tuesday, August 13th. Finally, Needham & Company LLC raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Haemonetics has an average rating of “Moderate Buy” and an average price target of $106.14.

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.