Allspring Global Investments Holdings LLC Buys 343,214 Shares of Haemonetics Co. (NYSE:HAE)

Allspring Global Investments Holdings LLC raised its stake in shares of Haemonetics Co. (NYSE:HAE) by 75.9% during the 3rd quarter, Holdings Channel reports. The fund owned 795,381 shares of the medical instruments supplier’s stock after purchasing an additional 343,214 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Haemonetics were worth $63,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Research Global Investors boosted its position in Haemonetics by 2.3% during the 1st quarter. Capital Research Global Investors now owns 6,674,751 shares of the medical instruments supplier’s stock valued at $569,690,000 after acquiring an additional 151,183 shares in the last quarter. Vanguard Group Inc. raised its stake 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 acquiring an additional 25,451 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Haemonetics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock worth $80,972,000 after acquiring an additional 57,665 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Haemonetics by 6,573.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock worth $70,267,000 after acquiring an additional 836,623 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Haemonetics by 38.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 562,454 shares of the medical instruments supplier’s stock worth $48,006,000 after acquiring an additional 156,665 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barrington Research restated an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research note on Monday, September 23rd. CL King assumed coverage on Haemonetics in a research note on Friday, September 13th. They set a “buy” rating and a $116.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a research note on Tuesday, August 13th. BTIG Research assumed coverage on Haemonetics in a research note on Tuesday, September 10th. They set a “buy” rating and a $112.00 price objective for the company. Finally, Citigroup reduced their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.14.

Insider Buying and Selling

In related news, insider Stewart W. Strong sold 4,312 shares of Haemonetics stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $91.15, for a total value of $393,038.80. Following the sale, the insider now directly owns 18,196 shares in the company, valued at approximately $1,658,565.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Haemonetics Price Performance

Shares of Haemonetics stock opened at $74.87 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. Haemonetics Co. has a twelve month low of $70.74 and a twelve month high of $97.97. The business has a 50-day moving average price of $75.66 and a 200 day moving average price of $83.49. The firm has a market cap of $3.81 billion, a PE ratio of 32.69, a P/E/G ratio of 1.19 and a beta of 0.30.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (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 firm had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts predict that Haemonetics Co. will post 4.57 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.