Zions Bancorporation National Association UT Purchases New Shares in 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 acquired a new stake in Haemonetics Corporation (NYSE:HAE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,174 shares of the medical instruments supplier's stock, valued at approximately $2,744,000. Zions Bancorporation National Association UT owned approximately 0.09% of Haemonetics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HAE. TD Waterhouse Canada Inc. purchased a new stake in Haemonetics in the 4th quarter valued at about $25,000. Covestor Ltd grew its holdings in Haemonetics by 146.8% in the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock valued at $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 during the 1st quarter worth about $65,000. KBC Group NV grew its holdings in shares of Haemonetics by 19.9% during the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock worth $154,000 after purchasing an additional 401 shares during the period. Finally, Vise Technologies Inc. grew its holdings in shares of Haemonetics by 8.7% during the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock worth $221,000 after purchasing an additional 225 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Stock Performance

Shares of HAE stock traded up $0.65 on Wednesday, hitting $52.88. 531,758 shares of the stock traded hands, compared to its average volume of 790,407. The company has a market capitalization of $2.55 billion, a PE ratio of 16.17, a PEG ratio of 0.97 and a beta of 0.40. The company's fifty day moving average is $72.21 and its 200 day moving average is $67.13. 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 Corporation has a 1-year low of $50.68 and a 1-year high of $94.99.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly 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. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%. The company had revenue of $321.39 million during the quarter, compared to analysts' expectations of $305.12 million. During the same quarter in the prior year, the business posted $1.02 earnings per share. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities research analysts predict that Haemonetics Corporation will post 4.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HAE has been the topic of several recent research reports. JMP Securities reissued a "market outperform" rating and set a $100.00 price target on shares of Haemonetics in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $62.00 price target (down from $85.00) on shares of Haemonetics in a research report on Friday, August 8th. Robert W. Baird began coverage on Haemonetics in a research report on Thursday, June 26th. They issued an "outperform" rating and a $87.00 target price on the stock. Citigroup raised shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Wednesday, July 9th. Finally, Mizuho cut their price target on shares of Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.18.

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.