VestGen Advisors LLC Makes New $2.90 Million Investment in Haemonetics Corporation $HAE

VestGen Advisors LLC acquired a new position in Haemonetics Corporation (NYSE:HAE) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 27,550 shares of the medical instruments supplier’s stock, valued at approximately $2,901,000.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Haemonetics by 11.3% in the third quarter. GAMMA Investing LLC now owns 894 shares of the medical instruments supplier’s stock valued at $94,000 after purchasing an additional 91 shares during the last quarter. Abel Hall LLC raised its position in Haemonetics by 4.0% in the 3rd quarter. Abel Hall LLC now owns 3,103 shares of the medical instruments supplier’s stock valued at $327,000 after buying an additional 119 shares during the last quarter. Fortitude Family Office LLC lifted its position in Haemonetics by 104.5% during the 3rd quarter. Fortitude Family Office LLC now owns 272 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 139 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Haemonetics by 12.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier’s stock valued at $108,000 after buying an additional 211 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Haemonetics by 55.8% during the third quarter. Farther Finance Advisors LLC now owns 946 shares of the medical instruments supplier’s stock worth $100,000 after purchasing an additional 339 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Stock Up 1.3%

Shares of HAE opened at $119.84 on Friday. Haemonetics Corporation has a 52 week low of $49.00 and a 52 week high of $123.77. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 2.37 and a beta of 0.61. 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 fifty day moving average of $109.79 and a 200-day moving average of $78.67.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data 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. 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 quarter in the previous year, the company posted $1.10 EPS. Haemonetics’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on HAE shares. Robert W. Baird upped their price objective on Haemonetics from $96.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, August 21st. Mizuho boosted their price target on Haemonetics from $95.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Weiss Ratings upgraded Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. BTIG Research boosted their target price on Haemonetics from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Finally, Barrington Research increased their target price on shares of Haemonetics from $118.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Haemonetics Profile

Haemonetics Corporation (NYSE: HAE) is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company’s offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.