Principal Financial Group Inc. Sells 37,433 Shares of Haemonetics Co. (NYSE:HAE)

Principal Financial Group Inc. reduced its holdings in shares of Haemonetics Co. (NYSE:HAE) by 19.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 155,259 shares of the medical instruments supplier’s stock after selling 37,433 shares during the period. Principal Financial Group Inc.’s holdings in Haemonetics were worth $12,480,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP acquired a new stake in Haemonetics in the second quarter valued at approximately $39,000. Daiwa Securities Group Inc. bought a new position in shares of Haemonetics in the 2nd quarter valued at $82,000. Canada Pension Plan Investment Board bought a new position in shares of Haemonetics in the 2nd quarter valued at $83,000. Nisa Investment Advisors LLC boosted its holdings in shares of Haemonetics by 124.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 632 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Haemonetics during the second quarter worth about $140,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Stock Performance

Shares of Haemonetics stock opened at $77.57 on Monday. The company has a market cap of $3.90 billion, a P/E ratio of 32.19, a PEG ratio of 1.29 and a beta of 0.38. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average price of $81.59 and a two-hundred day moving average price of $80.97. Haemonetics Co. has a 1-year low of $70.25 and a 1-year high of $97.97.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. During the same quarter last year, the firm posted $0.99 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Haemonetics Co. will post 4.59 EPS for the current year.

Analysts Set New Price Targets

HAE has been the topic of several recent research reports. Bank of America began coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 price target on the stock. CL King assumed coverage on shares of Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $112.00 target price on shares of Haemonetics in a research report on Tuesday, December 3rd. Finally, Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target for the company in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Haemonetics has a consensus rating of “Moderate Buy” and a consensus price target of $108.78.

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.