EP Wealth Advisors LLC Takes $542,000 Position in Haemonetics Corporation $HAE

EP Wealth Advisors LLC purchased a new stake in Haemonetics Corporation (NYSE:HAE) during the 2nd quarter, HoldingsChannel reports. The firm purchased 7,229 shares of the medical instruments supplier’s stock, valued at approximately $542,000.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Haemonetics by 48.6% during the 4th quarter. AQR Capital Management LLC now owns 3,163,104 shares of the medical instruments supplier’s stock worth $253,523,000 after purchasing an additional 1,034,226 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Haemonetics by 994.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock valued at $110,615,000 after buying an additional 1,254,035 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Haemonetics by 21.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock valued at $74,731,000 after buying an additional 233,119 shares during the last quarter. North Peak Capital Management LLC increased its position in Haemonetics by 204.4% in the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock worth $88,405,000 after buying an additional 740,626 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its position in Haemonetics by 17.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier’s stock worth $47,400,000 after buying an additional 124,020 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BTIG Research increased their price objective on Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Weiss Ratings raised shares of Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Bank of America upgraded shares of Haemonetics from a “neutral” rating to a “buy” rating and upped their target price for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. Citigroup raised their price target on shares of Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised shares of Haemonetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.56.

Haemonetics Stock Performance

HAE opened at $108.34 on Tuesday. The stock has a market cap of $4.93 billion, a PE ratio of 53.11, a P/E/G ratio of 2.18 and a beta of 0.52. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40. Haemonetics Corporation has a 1 year low of $47.31 and a 1 year high of $109.57. The stock’s 50 day simple moving average is $82.32 and its 200-day simple moving average is $68.81.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.Haemonetics’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. Sell-side analysts forecast that Haemonetics Corporation will post 5.28 EPS for the current year.

About Haemonetics

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.