Expect Equity LLC Makes New Investment in Haemonetics Corporation $HAE

Expect Equity LLC purchased a new position in Haemonetics Corporation (NYSE:HAE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,026 shares of the medical instruments supplier’s stock, valued at approximately $3,077,000. Haemonetics makes up 2.0% of Expect Equity LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Haemonetics by 3.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,541 shares of the medical instruments supplier’s stock worth $1,877,000 after purchasing an additional 971 shares during the period. Caxton Associates LLP acquired a new position in Haemonetics during the 1st quarter valued at about $216,000. United Services Automobile Association bought a new stake in shares of Haemonetics during the 1st quarter worth about $212,000. Empowered Funds LLC raised its position in shares of Haemonetics by 9.1% during the 1st quarter. Empowered Funds LLC now owns 4,458 shares of the medical instruments supplier’s stock worth $283,000 after buying an additional 372 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Haemonetics by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,138 shares of the medical instruments supplier’s stock worth $9,923,000 after acquiring an additional 9,051 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HAE shares. Bank of America upgraded shares of Haemonetics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $72.00 to $80.00 in a report on Friday, May 22nd. Raymond James Financial reissued an “outperform” rating and set a $105.00 target price on shares of Haemonetics in a report on Friday, August 7th. Weiss Ratings raised Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Citigroup boosted their price objective on Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One research 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 stock. Based on data from MarketBeat.com, Haemonetics presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.56.

Haemonetics Stock Performance

Shares of HAE opened at $108.35 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91. The firm’s 50 day moving average is $83.00 and its 200-day moving average is $69.11. Haemonetics Corporation has a 12-month low of $47.31 and a 12-month high of $109.57. The stock has a market capitalization of $4.93 billion, a P/E ratio of 53.11, a P/E/G ratio of 2.17 and a beta of 0.52.

Haemonetics (NYSE:HAE) last released 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. The business 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%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. Equities research analysts anticipate that Haemonetics Corporation will post 5.28 EPS 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.