Cardinal Capital Management Increases Stake in Haemonetics Co. (NYSE:HAE)

Cardinal Capital Management increased its stake in shares of Haemonetics Co. (NYSE:HAE) by 26.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,283 shares of the medical instruments supplier’s stock after acquiring an additional 2,994 shares during the quarter. Cardinal Capital Management’s holdings in Haemonetics were worth $1,219,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Haemonetics by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,406,309 shares of the medical instruments supplier’s stock valued at $462,293,000 after acquiring an additional 25,451 shares during the last quarter. Wellington Management Group LLP raised its position in Haemonetics by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 3,268,083 shares of the medical instruments supplier’s stock valued at $279,454,000 after purchasing an additional 101,029 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Haemonetics by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 826,731 shares of the medical instruments supplier’s stock valued at $70,697,000 after purchasing an additional 59,670 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Haemonetics by 27.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after purchasing an additional 152,098 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Haemonetics by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 534,694 shares of the medical instruments supplier’s stock valued at $45,722,000 after purchasing an additional 8,901 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HAE. Barrington Research boosted their price objective 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. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. JMP Securities raised their price target on Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Friday, May 10th. Needham & Company LLC raised Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research report on Wednesday, June 12th. Finally, TheStreet lowered shares of Haemonetics from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Haemonetics currently has an average rating of “Moderate Buy” and a consensus price target of $109.50.

Insiders Place Their Bets

In related news, insider Stewart W. Strong sold 8,857 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $87.53, for a total transaction of $775,253.21. Following the completion of the sale, the insider now owns 18,196 shares of the company’s stock, valued at $1,592,695.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Stewart W. Strong sold 733 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $96.04, for a total value of $70,397.32. Following the sale, the insider now owns 15,608 shares in the company, valued at $1,498,992.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stewart W. Strong sold 8,857 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $87.53, for a total transaction of $775,253.21. Following the completion of the sale, the insider now directly owns 18,196 shares in the company, valued at $1,592,695.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,380 shares of company stock worth $2,445,816. 1.80% of the stock is owned by corporate insiders.

Haemonetics Price Performance

HAE opened at $83.15 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.50 and a debt-to-equity ratio of 0.83. The business’s fifty day simple moving average is $88.87 and its 200-day simple moving average is $83.71. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 1.51 and a beta of 0.37. Haemonetics Co. has a 12-month low of $70.74 and a 12-month high of $97.97.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. The firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $329.53 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. On average, equities research analysts anticipate that Haemonetics Co. will post 4.57 earnings per share 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.