444,351 Shares in Haemonetics Corporation $HAE Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 444,351 Haemonetics shares during the second quarter, worth approximately $33.3 million and representing about 0.98% of the company. Institutional investors collectively own 99.67% of HAE.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in EPS versus the $1.08 consensus and revenue of $339.38 million, up 5.5% year over year.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $99.78, although shares recently opened at $108.68.

Bank of America Corp DE bought a new stake in Haemonetics Corporation (NYSE:HAE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 444,351 shares of the medical instruments supplier's stock, valued at approximately $33,326,000. Bank of America Corp DE owned approximately 0.98% of Haemonetics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Nierenberg Investment Management Company LLC purchased a new position in shares of Haemonetics during the 2nd quarter worth about $1,971,000. Rice Hall James & Associates LLC acquired a new stake in shares of Haemonetics in the second quarter worth approximately $3,828,000. Renaissance Technologies LLC purchased a new stake in Haemonetics in the first quarter valued at approximately $2,435,000. Aurora Investment Counsel acquired a new position in Haemonetics during the second quarter worth approximately $1,913,000. Finally, Quantinno Capital Management LP increased its position in Haemonetics by 438.0% during the first quarter. Quantinno Capital Management LP now owns 30,708 shares of the medical instruments supplier's stock worth $1,731,000 after purchasing an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Stock Performance

Shares of NYSE:HAE opened at $108.68 on Wednesday. The business's 50-day simple moving average is $94.98 and its 200 day simple moving average is $75.28. The company has a market cap of $4.94 billion, a P/E ratio of 53.27, a PEG ratio of 2.18 and a beta of 0.54. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. Haemonetics Corporation has a one year low of $47.31 and a one year high of $110.45.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly 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 analysts' expectations of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.Haemonetics's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 EPS. On average, sell-side analysts forecast that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

HAE has been the subject of several research reports. Barrington Research boosted their price objective on shares of Haemonetics from $95.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Mizuho increased their target price on Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Wall Street Zen upgraded Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. boosted 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, Raymond James Financial upped their price target on Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.78.

Haemonetics Company Profile

Haemonetics Corporation is a medical technology company that develops and markets products and services for blood management. Its offerings support blood and plasma collection, blood component processing, surgical blood salvage, hemostasis testing and hospital transfusion management.

The company's product portfolio includes automated plasma and blood component collection systems, equipment and disposables used in surgical cell salvage, and diagnostic technologies that help healthcare professionals assess coagulation and bleeding risk.

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