Cornercap Investment Counsel Inc. Reduces Stake in Haemonetics Co. (NYSE:HAE)

Cornercap Investment Counsel Inc. cut its stake in shares of Haemonetics Co. (NYSE:HAE) by 55.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,679 shares of the medical instruments supplier’s stock after selling 3,306 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Haemonetics were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Commonwealth Equity Services LLC raised its stake in shares of Haemonetics by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after acquiring an additional 117 shares during the period. Vontobel Holding Ltd. raised its position in Haemonetics by 3.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock worth $392,000 after purchasing an additional 180 shares during the period. QRG Capital Management Inc. lifted its stake in Haemonetics by 6.9% in the second quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock worth $333,000 after purchasing an additional 260 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Haemonetics by 2.0% during the second quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier’s stock valued at $1,176,000 after buying an additional 272 shares during the last quarter. Finally, Keene & Associates Inc. raised its holdings in shares of Haemonetics by 3.0% in the third quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock worth $818,000 after buying an additional 298 shares during the period. 99.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $112.00 price objective on shares of Haemonetics in a report on Friday. Citigroup lowered their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Barrington Research restated an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a report on Friday, November 8th. CL King started coverage on Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price for the company. Finally, BTIG Research began coverage on Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price on the stock. Three investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Trading Down 1.2 %

Haemonetics stock opened at $88.15 on Tuesday. Haemonetics Co. has a one year low of $70.25 and a one year high of $97.97. The stock has a market cap of $4.43 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 1.39 and a beta of 0.32. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The stock has a 50-day moving average of $77.85 and a two-hundred day moving average of $82.59.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. During the same period last year, the business earned $0.99 EPS. Haemonetics’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts anticipate that Haemonetics Co. will post 4.59 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.