EntryPoint Capital LLC Reduces Stock Position in Haemonetics Co. (NYSE:HAE)

EntryPoint Capital LLC cut its stake in shares of Haemonetics Co. (NYSE:HAE) by 58.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,854 shares of the medical instruments supplier’s stock after selling 3,943 shares during the period. EntryPoint Capital LLC’s holdings in Haemonetics were worth $223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Haemonetics by 206.3% in the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after buying an additional 521,640 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Haemonetics by 9.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after acquiring an additional 363,702 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Haemonetics in the 4th quarter worth $19,002,000. Thrivent Financial for Lutherans raised its holdings in Haemonetics by 14.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier’s stock worth $98,716,000 after purchasing an additional 164,111 shares during the period. Finally, Boston Partners lifted its position in Haemonetics by 27.5% during the fourth quarter. Boston Partners now owns 536,262 shares of the medical instruments supplier’s stock valued at $41,485,000 after purchasing an additional 115,506 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HAE has been the topic of several recent research reports. Barrington Research decreased their price objective on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Bank of America downgraded shares of Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $95.00 to $68.00 in a report on Friday, February 7th. JMP Securities reduced their price objective on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research note on Friday, February 7th. Needham & Company LLC dropped their target price on shares of Haemonetics from $108.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.22.

Haemonetics Stock Down 1.8 %

Shares of HAE stock opened at $63.03 on Friday. The company’s fifty day simple moving average is $66.05 and its two-hundred day simple moving average is $74.68. Haemonetics Co. has a 52 week low of $58.80 and a 52 week high of $97.97. The stock has a market cap of $3.17 billion, a P/E ratio of 24.81, a PEG ratio of 1.11 and a beta of 0.43. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. Analysts predict that Haemonetics Co. will post 4.55 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.