Summit Creek Advisors LLC Grows Stock Position in Haemonetics Co. (NYSE:HAE)

Summit Creek Advisors LLC lifted its stake in Haemonetics Co. (NYSE:HAE – Get Rating) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,860 shares of the medical instruments supplier’s stock after buying an additional 503 shares during the period. Summit Creek Advisors LLC’s holdings in Haemonetics were worth $8,336,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. State of Michigan Retirement System increased its holdings in shares of Haemonetics by 1.7% in the first quarter. State of Michigan Retirement System now owns 12,974 shares of the medical instruments supplier’s stock worth $820,000 after buying an additional 218 shares during the period. Louisiana State Employees Retirement System increased its holdings in Haemonetics by 2.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the medical instruments supplier’s stock valued at $769,000 after purchasing an additional 300 shares during the period. HHM Wealth Advisors LLC purchased a new position in Haemonetics during the 1st quarter valued at about $25,000. Eaton Vance Management increased its holdings in Haemonetics by 4.6% during the 4th quarter. Eaton Vance Management now owns 9,756 shares of the medical instruments supplier’s stock valued at $435,000 after purchasing an additional 433 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in Haemonetics by 4.8% during the 1st quarter. Teacher Retirement System of Texas now owns 10,431 shares of the medical instruments supplier’s stock valued at $659,000 after purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James boosted their price target on Haemonetics from $63.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, July 1st. JMP Securities reaffirmed a “buy” rating and set a $80.00 price objective on shares of Haemonetics in a research report on Friday, July 8th. Morgan Stanley lifted their price objective on Haemonetics from $60.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 1st. StockNews.com raised Haemonetics from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Finally, Barrington Research lifted their price objective on Haemonetics from $71.00 to $77.00 in a research report on Wednesday, May 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.40.

Insider Transactions at Haemonetics

In related news, CEO Christopher Simon sold 832 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $56.10, for a total value of $46,675.20. Following the transaction, the chief executive officer now directly owns 191,327 shares of the company’s stock, valued at approximately $10,733,444.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Josep Llorens sold 1,418 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $59.10, for a total value of $83,803.80. Following the transaction, the executive vice president now directly owns 17,335 shares of the company’s stock, valued at approximately $1,024,498.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Simon sold 832 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $56.10, for a total value of $46,675.20. Following the completion of the transaction, the chief executive officer now directly owns 191,327 shares in the company, valued at $10,733,444.70. The disclosure for this sale can be found here. Insiders have sold a total of 8,095 shares of company stock valued at $482,496 in the last ninety days. 1.65% of the stock is currently owned by corporate insiders.

Haemonetics Stock Performance

Shares of HAE opened at $69.58 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $65.18 and its 200-day moving average price is $58.96. Haemonetics Co. has a 52 week low of $43.50 and a 52 week high of $75.34. The stock has a market cap of $3.57 billion, a P/E ratio of 82.83 and a beta of 0.39.

Haemonetics (NYSE:HAE – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The medical instruments supplier reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. Haemonetics had a return on equity of 18.57% and a net margin of 4.37%. The firm had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $257.11 million. During the same period in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that Haemonetics Co. will post 2.72 earnings per share for the current fiscal year.

Haemonetics Profile

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Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous 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.