Haemonetics Co. (NYSE:HAE) Stake Increased by First Hawaiian Bank

First Hawaiian Bank boosted its stake in shares of Haemonetics Co. (NYSE:HAE) by 55.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,165 shares of the medical instruments supplier’s stock after purchasing an additional 2,192 shares during the period. First Hawaiian Bank’s holdings in Haemonetics were worth $510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HAE. TFO Wealth Partners LLC raised its position in shares of Haemonetics by 29,450.0% in the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 589 shares during the period. Covestor Ltd boosted its holdings in Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 438 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Haemonetics in the first quarter valued at about $86,000. Parkside Financial Bank & Trust lifted its position in shares of Haemonetics by 17.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock worth $90,000 after purchasing an additional 156 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Haemonetics in the 1st quarter worth approximately $114,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Price Performance

Haemonetics stock traded down $3.25 during mid-day trading on Monday, reaching $86.60. 609,472 shares of the company were exchanged, compared to its average volume of 508,961. The company has a fifty day simple moving average of $86.93 and a 200-day simple moving average of $84.19. Haemonetics Co. has a 12 month low of $70.74 and a 12 month high of $97.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50. The firm has a market cap of $4.41 billion, a PE ratio of 37.79, a PEG ratio of 1.64 and a beta of 0.29.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $329.53 million. Haemonetics had a return on equity of 22.25% and a net margin of 8.98%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. As a group, equities research analysts expect that Haemonetics Co. will post 4.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on HAE. Needham & Company LLC upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Wednesday, June 12th. JMP Securities raised their target price on shares of Haemonetics from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Friday, May 10th. Finally, Barrington Research upped their target price on shares of Haemonetics from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.50.

Insiders Place Their Bets

In other news, insider Stewart W. Strong sold 733 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $96.04, for a total transaction of $70,397.32. Following the completion of the sale, the insider now owns 15,608 shares in the company, valued at $1,498,992.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Stewart W. Strong sold 733 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $96.04, for a total transaction of $70,397.32. Following the transaction, the insider now owns 15,608 shares of the company’s stock, valued at approximately $1,498,992.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stewart W. Strong sold 686 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $95.11, for a total value of $65,245.46. Following the transaction, the insider now directly owns 18,196 shares in the company, valued at approximately $1,730,621.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,523 shares of company stock worth $2,812,120. 1.80% of the stock is owned by corporate insiders.

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.