Principal Financial Group Inc. Cuts Stock Position in Haemonetics Co. (NYSE:HAE)

Principal Financial Group Inc. lessened its stake in shares of Haemonetics Co. (NYSE:HAE) by 9.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 192,692 shares of the medical instruments supplier’s stock after selling 18,985 shares during the quarter. Principal Financial Group Inc.’s holdings in Haemonetics were worth $15,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of HAE. Silvercrest Asset Management Group LLC purchased a new stake in shares of Haemonetics during the first quarter worth approximately $38,706,000. Norges Bank purchased a new stake in shares of Haemonetics during the fourth quarter worth approximately $28,591,000. Allspring Global Investments Holdings LLC raised its stake in shares of Haemonetics by 132.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 502,993 shares of the medical instruments supplier’s stock worth $42,930,000 after purchasing an additional 286,897 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 156,665 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in Haemonetics by 27.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after acquiring an additional 152,098 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Insider Activity at Haemonetics

In related news, insider Stewart W. Strong sold 4,312 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $91.15, for a total transaction of $393,038.80. Following the sale, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction, the executive vice president now directly owns 21,410 shares in the company, valued at $1,926,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stewart W. Strong sold 4,312 shares of the 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 transaction, the insider now owns 18,196 shares in the company, valued at $1,658,565.40. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup dropped their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a report on Tuesday, August 13th. Needham & Company LLC raised Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a report on Wednesday, June 12th. Finally, Barrington Research upped their price objective on Haemonetics from $107.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.50.

Haemonetics Stock Down 0.1 %

Haemonetics stock opened at $75.00 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 1.38 and a beta of 0.29. Haemonetics Co. has a fifty-two week low of $70.74 and a fifty-two week high of $97.97. The stock’s fifty day moving average is $82.75 and its two-hundred day moving average is $83.94.

Haemonetics (NYSE:HAE) last posted 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 firm had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. Analysts predict that Haemonetics Co. will post 4.58 EPS for the current fiscal year.

About Haemonetics

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.