Pinebridge Investments L.P. increased its holdings in shares of Haemonetics Co. (NYSE:HAE) by 22.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,410 shares of the medical instruments supplier’s stock after purchasing an additional 9,343 shares during the quarter. Pinebridge Investments L.P.’s holdings in Haemonetics were worth $2,928,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. First Allied Advisory Services Inc. acquired a new stake in shares of Haemonetics during the 4th quarter worth about $220,000. The Manufacturers Life Insurance Company increased its position in shares of Haemonetics by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 40,317 shares of the medical instruments supplier’s stock worth $2,342,000 after purchasing an additional 827 shares during the last quarter. Swiss National Bank increased its position in shares of Haemonetics by 2.4% during the 4th quarter. Swiss National Bank now owns 89,600 shares of the medical instruments supplier’s stock worth $5,204,000 after purchasing an additional 2,100 shares during the last quarter. Chilton Investment Co. LLC increased its position in shares of Haemonetics by 26.1% during the 4th quarter. Chilton Investment Co. LLC now owns 217,825 shares of the medical instruments supplier’s stock worth $12,651,000 after purchasing an additional 45,081 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Haemonetics during the 4th quarter worth about $1,057,000. 95.88% of the stock is owned by hedge funds and other institutional investors.
Haemonetics Co. (HAE) opened at $69.56 on Monday. The firm has a market capitalization of $3,717.81, a PE ratio of 38.22, a price-to-earnings-growth ratio of 3.44 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.82 and a quick ratio of 1.33. Haemonetics Co. has a 52-week low of $37.20 and a 52-week high of $72.33.
Haemonetics declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 6th that authorizes the company to repurchase $260.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Several equities analysts have weighed in on the company. Jefferies Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Haemonetics in a research report on Wednesday, February 7th. Morgan Stanley lifted their target price on Haemonetics from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised Haemonetics from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Friday, February 9th. TheStreet downgraded Haemonetics from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Haemonetics in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.33.
In other news, Director Mark W. Kroll sold 7,118 shares of Haemonetics stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $63.00, for a total value of $448,434.00. Following the completion of the transaction, the director now owns 33,881 shares in the company, valued at approximately $2,134,503. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.
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Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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