Principal Financial Group Inc. Decreases Stake in Haemonetics Co. (NYSE:HAE)

Principal Financial Group Inc. lessened its holdings in Haemonetics Co. (NYSE:HAE) by 19.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,259 shares of the medical instruments supplier’s stock after selling 37,433 shares during the period. Principal Financial Group Inc. owned approximately 0.30% of Haemonetics worth $12,480,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Silvercrest Asset Management Group LLC bought a new position in Haemonetics in the 1st quarter valued at $38,706,000. Price T Rowe Associates Inc. MD increased its holdings in Haemonetics by 38.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 562,454 shares of the medical instruments supplier’s stock worth $48,006,000 after buying an additional 156,665 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Haemonetics by 311.4% in the second quarter. Harbor Capital Advisors Inc. now owns 25,775 shares of the medical instruments supplier’s stock worth $2,132,000 after acquiring an additional 19,510 shares during the period. Janus Henderson Group PLC boosted its stake in Haemonetics by 26.8% in the first quarter. Janus Henderson Group PLC now owns 29,730 shares of the medical instruments supplier’s stock valued at $2,536,000 after acquiring an additional 6,287 shares during the last quarter. Finally, CWM LLC grew its position in shares of Haemonetics by 40.5% during the 2nd quarter. CWM LLC now owns 36,526 shares of the medical instruments supplier’s stock valued at $3,022,000 after acquiring an additional 10,537 shares during the period. 99.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HAE shares. Barrington Research reaffirmed an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a report on Friday, November 8th. BTIG Research initiated coverage on Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target on the stock. Citigroup cut their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. CL King assumed coverage on Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective on the stock. Finally, Bank of America assumed coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Trading Down 1.7 %

Shares of Haemonetics stock opened at $89.22 on Friday. The company’s 50-day moving average price is $77.55 and its 200-day moving average price is $82.75. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 1.43 and a beta of 0.32. Haemonetics Co. has a 12-month low of $70.25 and a 12-month high of $97.97. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating the consensus estimate of $1.09 by $0.03. The firm had revenue of $345.50 million during the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. On average, equities analysts expect that Haemonetics Co. will post 4.59 earnings per share 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.