MetLife Investment Management LLC Cuts Position in Haemonetics Co. (NYSE:HAE)

MetLife Investment Management LLC reduced its holdings in shares of Haemonetics Co. (NYSE:HAE) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,525 shares of the medical instruments supplier’s stock after selling 279 shares during the quarter. MetLife Investment Management LLC owned 0.11% of Haemonetics worth $4,383,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HAE. Global Alpha Capital Management Ltd. purchased a new stake in Haemonetics during the 3rd quarter worth $806,000. Harbor Capital Advisors Inc. boosted its position in shares of 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 buying an additional 19,510 shares during the period. Janus Henderson Group PLC grew its stake in shares of 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 buying an additional 6,287 shares in the last quarter. CWM LLC raised its holdings 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 buying an additional 10,537 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in Haemonetics by 8.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 163,856 shares of the medical instruments supplier’s stock worth $13,171,000 after acquiring an additional 12,310 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Price Performance

Shares of HAE opened at $87.47 on Monday. Haemonetics Co. has a 52 week low of $70.25 and a 52 week 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. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 1.36 and a beta of 0.32. The stock has a 50 day moving average of $79.99 and a 200-day moving average of $82.05.

Haemonetics (NYSE:HAE) last released its quarterly earnings data 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. 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 firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, analysts forecast that Haemonetics Co. will post 4.59 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on HAE shares. Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a report on Tuesday, August 13th. Bank of America began coverage on shares of Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price objective on the stock. CL King started coverage on Haemonetics in a research note on Friday, September 13th. They set a “buy” rating and a $116.00 target price for the company. Finally, Citigroup cut their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $107.88.

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.