Evolve Private Wealth LLC Takes $355,000 Position in Haemonetics Corporation $HAE

Evolve Private Wealth LLC acquired a new stake in shares of Haemonetics Corporation (NYSE:HAE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 4,739 shares of the medical instruments supplier’s stock, valued at approximately $355,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nierenberg Investment Management Company LLC purchased a new position in Haemonetics during the second quarter valued at approximately $1,971,000,000. Renaissance Technologies LLC purchased a new stake in shares of Haemonetics in the first quarter worth $2,435,000. Rice Hall James & Associates LLC purchased a new stake in shares of Haemonetics in the second quarter worth $3,828,000. London Co. of Virginia raised its position in shares of Haemonetics by 33.9% during the 1st quarter. London Co. of Virginia now owns 352,807 shares of the medical instruments supplier’s stock valued at $19,884,000 after purchasing an additional 89,242 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Haemonetics by 438.0% during the 1st quarter. Quantinno Capital Management LP now owns 30,708 shares of the medical instruments supplier’s stock valued at $1,731,000 after purchasing an additional 25,000 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HAE. JPMorgan Chase & Co. lifted their target price on shares of Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Citigroup raised their price target on Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Bank of America upgraded Haemonetics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $72.00 to $80.00 in a research report on Friday, May 22nd. Wall Street Zen raised Haemonetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Barrington Research upped their price objective on Haemonetics from $95.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Haemonetics presently has an average rating of “Moderate Buy” and an average price target of $97.56.

Haemonetics Price Performance

HAE stock opened at $108.35 on Wednesday. Haemonetics Corporation has a one year low of $47.31 and a one year high of $109.57. The company’s fifty day moving average price is $83.00 and its 200-day moving average price is $69.11. 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 company has a market capitalization of $4.93 billion, a PE ratio of 53.11, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52.

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