PNC Financial Services Group Inc. Raises Stock Position in Haemonetics Co. (NYSE:HAE)

PNC Financial Services Group Inc. raised its stake in shares of Haemonetics Co. (NYSE:HAE) by 22.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,427 shares of the medical instruments supplier’s stock after purchasing an additional 1,710 shares during the period. PNC Financial Services Group Inc.’s holdings in Haemonetics were worth $628,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in HAE. Van ECK Associates Corp purchased a new position in shares of Haemonetics in the first quarter worth $28,000. Meeder Asset Management Inc. lifted its stake in shares of Haemonetics by 7,350.0% in the 1st quarter. Meeder Asset Management Inc. now owns 298 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 294 shares during the period. Altshuler Shaham Ltd bought a new position in shares of Haemonetics in the 1st quarter worth approximately $35,000. Fifth Third Bancorp increased its holdings in Haemonetics by 1,180.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,741 shares of the medical instruments supplier’s stock worth $116,000 after acquiring an additional 1,605 shares in the last quarter. Finally, Capital Analysts LLC purchased a new stake in Haemonetics during the 1st quarter valued at approximately $195,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

HAE has been the topic of several research reports. Zacks Investment Research upgraded Haemonetics from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research note on Wednesday, August 18th. started coverage on Haemonetics in a research report on Thursday, June 17th. They set a “buy” rating and a $75.00 price target for the company. Citigroup began coverage on Haemonetics in a report on Thursday, June 17th. They issued a “buy” rating for the company. JMP Securities decreased their target price on Haemonetics from $110.00 to $90.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $86.00 price target on shares of Haemonetics in a research report on Tuesday, June 29th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Haemonetics presently has an average rating of “Buy” and an average target price of $87.50.

Shares of HAE opened at $68.19 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 3.00 and a quick ratio of 1.57. Haemonetics Co. has a 12 month low of $49.26 and a 12 month high of $142.11. The stock’s 50-day moving average is $61.40 and its two-hundred day moving average is $75.17. The stock has a market cap of $3.48 billion, a PE ratio of 54.55, a P/E/G ratio of 2.43 and a beta of 0.39.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Tuesday, August 10th. The medical instruments supplier reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $228.53 million during the quarter, compared to analyst estimates of $225.54 million. Haemonetics had a return on equity of 17.51% and a net margin of 7.14%. On average, research analysts anticipate that Haemonetics Co. will post 2.77 earnings per share for the current year.

Haemonetics Company Profile

Haemonetics Corp. is a global healthcare company, which engages in the development and distribution of hematology products and solutions. It operates through the following segments: Plasma, Blood Center, Hospital, and Corporate. The Plasma segment offers automated plasma collection and donor management software systems.

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Institutional Ownership by Quarter for Haemonetics (NYSE:HAE)

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