Bank of New York Mellon Corp Reduces Holdings in Haemonetics Co. (NYSE:HAE)

Bank of New York Mellon Corp trimmed its position in shares of Haemonetics Co. (NYSE:HAE) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 386,489 shares of the medical instruments supplier’s stock after selling 15,785 shares during the period. Bank of New York Mellon Corp’s holdings in Haemonetics were worth $30,177,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. KBC Group NV grew its holdings in Haemonetics by 54.6% in the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after buying an additional 712 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in Haemonetics in the 3rd quarter valued at $204,000. Versor Investments LP grew its holdings in Haemonetics by 9.1% in the 3rd quarter. Versor Investments LP now owns 3,600 shares of the medical instruments supplier’s stock valued at $289,000 after buying an additional 300 shares in the last quarter. Verdence Capital Advisors LLC purchased a new stake in Haemonetics in the 3rd quarter valued at $302,000. Finally, Empowered Funds LLC purchased a new stake in Haemonetics in the 4th quarter valued at $319,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Stock Performance

Shares of Haemonetics stock opened at $68.70 on Friday. Haemonetics Co. has a 52 week low of $58.80 and a 52 week high of $97.97. The business’s fifty day simple moving average is $69.77 and its 200-day simple moving average is $75.74. The firm has a market cap of $3.45 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.11 and a beta of 0.43. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. Equities analysts forecast that Haemonetics Co. will post 4.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HAE. JMP Securities dropped their target price on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a report on Friday, February 7th. Bank of America cut Haemonetics from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $95.00 to $68.00 in a report on Friday, February 7th. Barrington Research dropped their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, February 7th. JPMorgan Chase & Co. started coverage on Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price for the company. Finally, StockNews.com lowered Haemonetics from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.67.

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.