Inspire Investing LLC Sells 259 Shares of Haemonetics Co. (NYSE:HAE)

Inspire Investing LLC trimmed its stake in Haemonetics Co. (NYSE:HAE) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,218 shares of the medical instruments supplier’s stock after selling 259 shares during the period. Inspire Investing LLC’s holdings in Haemonetics were worth $360,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Haemonetics during the 4th quarter valued at about $28,591,000. Allspring Global Investments Holdings LLC increased its position in Haemonetics by 132.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 502,993 shares of the medical instruments supplier’s stock valued at $42,930,000 after buying an additional 286,897 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Haemonetics by 27.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock valued at $60,888,000 after buying an additional 152,098 shares in the last quarter. Wellington Management Group LLP increased its position in Haemonetics by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 3,268,083 shares of the medical instruments supplier’s stock valued at $279,454,000 after buying an additional 101,029 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Haemonetics by 36.9% during the 4th quarter. California Public Employees Retirement System now owns 229,717 shares of the medical instruments supplier’s stock valued at $19,643,000 after buying an additional 61,935 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HAE shares. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Barrington Research upped their price target on Haemonetics from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Needham & Company LLC raised Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a report on Wednesday, June 12th. Finally, JMP Securities increased their target price on Haemonetics from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.50.

Insider Activity at Haemonetics

In related news, insider Stewart W. Strong sold 733 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $96.04, for a total value of $70,397.32. Following the completion of the sale, the insider now owns 15,608 shares of the company’s stock, valued at $1,498,992.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Anila Lingamneni sold 2,305 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $95.00, for a total value of $218,975.00. Following the completion of the transaction, the executive vice president now directly owns 12,295 shares in the company, valued at $1,168,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stewart W. Strong sold 733 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $96.04, for a total value of $70,397.32. Following the completion of the transaction, the insider now owns 15,608 shares of the company’s stock, valued at $1,498,992.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,516 shares of company stock valued at $2,638,056. 1.80% of the stock is currently owned by insiders.

Haemonetics Price Performance

Shares of Haemonetics stock opened at $91.55 on Wednesday. The business has a 50 day simple moving average of $87.90 and a two-hundred day simple moving average of $83.57. Haemonetics Co. has a 12 month low of $70.74 and a 12 month high of $97.97. The stock has a market capitalization of $4.66 billion, a P/E ratio of 39.98, a PEG ratio of 1.64 and a beta of 0.29. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50.

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