Zions Bancorporation National Association UT Acquires Shares of 43,174 Haemonetics Corporation (NYSE:HAE)

Key Points

• Zions Bancorporation National Association UT has acquired 43,174 shares of Haemonetics Corporation, valued at approximately $2.74 million, representing about 0.09% of the company's stock.
• Haemonetics reported earnings per share of $1.10 for the recent quarter, exceeding analysts' expectations of $1.01.
• Institutional investors own a significant 99.67% of Haemonetics' stock, with several hedge funds recently increasing their holdings in the company.

Zions Bancorporation National Association UT bought a new position in Haemonetics Corporation (NYSE:HAE - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 43,174 shares of the medical instruments supplier's stock, valued at approximately $2,744,000. Zions Bancorporation National Association UT owned 0.09% of Haemonetics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HAE. TD Waterhouse Canada Inc. purchased a new stake in shares of Haemonetics in the 4th quarter worth about $25,000. Covestor Ltd grew its position in shares of Haemonetics by 146.8% in the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock worth $58,000 after buying an additional 439 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Haemonetics in the 1st quarter worth about $65,000. KBC Group NV grew its position in shares of Haemonetics by 19.9% in the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock worth $154,000 after buying an additional 401 shares during the period. Finally, Vise Technologies Inc. grew its position in shares of Haemonetics by 8.7% in the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock worth $221,000 after buying an additional 225 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 have recently weighed in on HAE. Citigroup raised shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Wednesday, July 9th. Barrington Research dropped their price target on shares of Haemonetics from $95.00 to $86.00 and set an "outperform" rating on the stock in a research note on Friday. JMP Securities reiterated a "market outperform" rating and issued a $100.00 price target on shares of Haemonetics in a research note on Tuesday, May 20th. Mizuho dropped their price target on shares of Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Needham & Company LLC lowered their target price on shares of Haemonetics from $84.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Haemonetics presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.18.

Haemonetics Stock Performance

Shares of NYSE:HAE traded down $1.44 during trading on Monday, hitting $52.55. The company's stock had a trading volume of 1,335,945 shares, compared to its average volume of 919,430. The company has a 50-day moving average of $72.56 and a 200-day moving average of $67.23. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.88 and a beta of 0.40. Haemonetics Corporation has a 12 month low of $52.29 and a 12 month high of $94.99. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.04.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The company had revenue of $321.39 million during the quarter, compared to analyst estimates of $305.12 million. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 EPS. On average, sell-side analysts expect that Haemonetics Corporation will post 4.55 earnings per share for the current year.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.