State of New Jersey Common Pension Fund D Decreases Stock Position in Haemonetics Co. (NYSE:HAE)

State of New Jersey Common Pension Fund D decreased its position in Haemonetics Co. (NYSE:HAE) by 44.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,260 shares of the medical instruments supplier’s stock after selling 16,824 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Haemonetics were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TFO Wealth Partners LLC lifted its position in Haemonetics by 29,450.0% during the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 589 shares in the last quarter. Covestor Ltd raised its stake in Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 438 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Haemonetics during the 2nd quarter worth approximately $82,000. EntryPoint Capital LLC acquired a new position in shares of Haemonetics in the 1st quarter worth approximately $86,000. Finally, Headlands Technologies LLC bought a new stake in shares of Haemonetics in the 1st quarter valued at approximately $114,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HAE has been the subject of a number of recent research reports. 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 objective for the company. BTIG Research initiated coverage on shares of Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target for the company. Barrington Research reiterated an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a report on Monday. Citigroup decreased their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, Needham & Company LLC raised Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research report on Wednesday, June 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Haemonetics has an average rating of “Moderate Buy” and a consensus price target of $106.14.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $75.50 on Wednesday. Haemonetics Co. has a fifty-two week low of $70.74 and a fifty-two week high of $97.97. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. The business has a 50-day moving average of $79.62 and a two-hundred day moving average of $84.01. The stock has a market capitalization of $3.85 billion, a P/E ratio of 32.97, a P/E/G ratio of 1.32 and a beta of 0.30.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.01). The business had revenue of $336.17 million for the quarter, compared to the consensus estimate of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. Haemonetics’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. On average, equities research analysts predict that Haemonetics Co. will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

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

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.