Corient Private Wealth LP purchased a new stake in shares of Haemonetics Corporation (NYSE:HAE – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,693 shares of the medical instruments supplier’s stock, valued at approximately $4,852,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of America Corp DE bought a new stake in shares of Haemonetics during the second quarter valued at about $33,326,000. American Capital Management Inc. bought a new position in Haemonetics in the 2nd quarter valued at about $5,019,000. Freestone Grove Partners LP acquired a new position in Haemonetics during the 2nd quarter valued at about $355,000. Caisse de depot et placement du Quebec bought a new stake in shares of Haemonetics during the 2nd quarter worth about $292,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Haemonetics in the 2nd quarter worth approximately $13,586,000. 99.67% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on HAE shares. Citigroup raised their price objective on shares of Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Robert W. Baird increased their price target on Haemonetics from $96.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Mizuho lifted their price target on Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on Haemonetics from $62.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $105.00 price objective on shares of Haemonetics in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.56.
Haemonetics Stock Down 1.2%
HAE stock opened at $102.72 on Tuesday. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $109.57. The firm has a market cap of $4.67 billion, a PE ratio of 50.35, a P/E/G ratio of 2.08 and a beta of 0.52. The firm has a 50 day simple moving average of $85.49 and a 200 day simple moving average of $70.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91.
Haemonetics (NYSE:HAE – Get Free Report) last announced its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The business had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. During the same period in the prior year, the business posted $1.10 earnings per share. Haemonetics’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal year.
Haemonetics Profile
Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.
The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.
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