PNC Financial Services Group Inc. Sells 528 Shares of Haemonetics Co. (NYSE:HAE)

PNC Financial Services Group Inc. lowered its holdings in shares of Haemonetics Co. (NYSE:HAE) by 5.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,803 shares of the medical instruments supplier’s stock after selling 528 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Haemonetics were worth $687,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Haemonetics by 9.5% in 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 last quarter. Geode Capital Management LLC raised its stake in Haemonetics by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock valued at $95,986,000 after buying an additional 21,547 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Haemonetics by 13.1% in the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier’s stock worth $71,500,000 after purchasing an additional 106,114 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Haemonetics by 10.9% in the third quarter. Westfield Capital Management Co. LP now owns 823,663 shares of the medical instruments supplier’s stock worth $66,206,000 after purchasing an additional 80,783 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Haemonetics by 0.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 801,049 shares of the medical instruments supplier’s stock worth $62,802,000 after purchasing an additional 5,668 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $95.00 to $68.00 in a report on Friday, February 7th. Raymond James reaffirmed a “strong-buy” rating and issued a $115.00 price target (down from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. JMP Securities lowered their price target on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reduced their price objective on Haemonetics from $108.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. initiated coverage on Haemonetics in a research report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $101.22.

Haemonetics Trading Down 0.2 %

Shares of HAE opened at $64.69 on Wednesday. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $3.25 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.11 and a beta of 0.43. The stock’s fifty day simple moving average is $68.08 and its 200 day simple moving average is $75.26. Haemonetics Co. has a twelve month low of $58.80 and a twelve month high of $97.97.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. On average, equities research analysts forecast that Haemonetics Co. will post 4.55 earnings per share for the current 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.