Black Creek Investment Management Lowers stake in Haemonetics Corporation (HAE)

Haemonetics Corporation (HAE) : Black Creek Investment Management reduced its stake in Haemonetics Corporation by 3.49% during the most recent quarter end. The investment management company now holds a total of 2,496,291 shares of Haemonetics Corporation which is valued at $65.2 Million after selling 90,400 shares in Haemonetics Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Haemonetics Corporation makes up approximately 5.95% of Black Creek Investment Management’s portfolio.

Other Hedge Funds, Including , Amg National Trust Bank boosted its stake in HAE in the latest quarter, The investment management firm added 1,397 additional shares and now holds a total of 16,072 shares of Haemonetics Corporation which is valued at $419,961. Haemonetics Corporation makes up approx 0.04% of Amg National Trust Bank’s portfolio.Teacher Retirement System Of Texas boosted its stake in HAE in the latest quarter, The investment management firm added 1,516 additional shares and now holds a total of 6,216 shares of Haemonetics Corporation which is valued at $162,424.Neuberger Berman Group reduced its stake in HAE by selling 63,669 shares or 2.67% in the most recent quarter. The Hedge Fund company now holds 2,323,856 shares of HAE which is valued at $64.6 Million. Haemonetics Corporation makes up approx 0.09% of Neuberger Berman Group’s portfolio.North Star Asset Management Inc boosted its stake in HAE in the latest quarter, The investment management firm added 3,170 additional shares and now holds a total of 207,450 shares of Haemonetics Corporation which is valued at $5.8 Million. Haemonetics Corporation makes up approx 0.68% of North Star Asset Management Inc’s portfolio.

Haemonetics Corporation opened for trading at $27.95 and hit $28.375 on the upside on Wednesday, eventually ending the session at $28.09, with a gain of 0.57% or 0.16 points. The heightened volatility saw the trading volume jump to 3,64,313 shares. Company has a market cap of $1,428 M.

On the company’s financial health, Haemonetics Corporation reported $0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $0.46. The company had revenue of $243.20 million for the quarter, compared to analysts expectations of $244.96 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Haemonetics Corporation. Haemonetics Corporation was Upgraded by Goldman to ” Neutral” on May 16, 2016. Shares were Reiterated by The Benchmark Company on May 11, 2016 to “Hold” and Lowered the Price Target to $ 28 from a previous price target of $35 .Shares were Reiterated by Barrington Research on May 3, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $40 .

Haemonetics Corporation is a healthcare company which provides blood management solutions to its customers. The Company’s portfolio of integrated devices information management and consulting services offers blood management solutions for each facet of the blood supply chain. It serves three customer segments: manufacturers of plasma derived pharmaceuticals blood collectors and hospitals. Its multiple product lines under four global product categories include Plasma Blood Center Hospital and Software Solutions. Its Plasma includes plasma collection devices and disposables. Its Blood Center includes blood collection and processing devices and disposables. Its Hospital includes surgical blood salvage and blood demand diagnostic devices and disposables. Its Software Solutions includes information technology platforms and consulting services provided to all three markets. It operates in North America Plasma North America Blood Center and Hospital Europe Asia Pacific and Japan.

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