Heartland Advisors Inc. Invests $15 Million in Haemonetics Corporation $HAE

Heartland Advisors Inc. purchased a new stake in Haemonetics Corporation (NYSE:HAE) in the second quarter, HoldingsChannel reports. The firm purchased 200,000 shares of the medical instruments supplier’s stock, valued at approximately $15,000,000.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Haemonetics in the 1st quarter valued at $2,435,000. Nierenberg Investment Management Company LLC acquired a new stake in shares of Haemonetics in the 2nd quarter valued at $1,971,000,000. Rice Hall James & Associates LLC bought a new stake in shares of Haemonetics during the second quarter worth $3,828,000. Aurora Investment Counsel bought a new stake in shares of Haemonetics during the second quarter worth $1,913,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Haemonetics by 438.0% during the first quarter. Quantinno Capital Management LP now owns 30,708 shares of the medical instruments supplier’s stock valued at $1,731,000 after acquiring an additional 25,000 shares during the period. Institutional investors own 99.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Citigroup boosted their price objective on Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Mizuho upped their target price on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. BTIG Research raised their target price on shares of Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird lifted their price target on shares of Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Haemonetics has an average rating of “Moderate Buy” and an average price target of $97.56.

Haemonetics Stock Performance

Shares of Haemonetics stock opened at $108.89 on Friday. The firm has a fifty day moving average of $81.69 and a two-hundred day moving average of $68.48. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 2.17 and a beta of 0.52. Haemonetics Corporation has a 52 week low of $47.31 and a 52 week high of $109.57.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $327.86 million. During the same period last year, the company earned $1.10 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict 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.