Algert Global LLC Has $3.52 Million Stock Position in Haemonetics Corporation $HAE

Key Points

• Algert Global reduced its Haemonetics stake by 39.7% in the second quarter, selling 30,870 shares and retaining 46,970 shares valued at approximately $3.52 million. Institutional investors collectively own 99.67% of the company.
• Analyst sentiment remains positive: Haemonetics has a consensus “Moderate Buy” rating and a $97.56 average price target, while several firms recently raised their targets to between $110 and $119.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in earnings per share versus the $1.08 consensus estimate and $339.38 million in revenue, up 5.5% year over year. The stock opened at $103.83, near its 12-month high of $109.57.

Algert Global LLC lowered its stake in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 39.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,970 shares of the medical instruments supplier's stock after selling 30,870 shares during the quarter. Algert Global LLC owned about 0.10% of Haemonetics worth $3,523,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Haemonetics by 12.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier's stock valued at $108,000 after acquiring an additional 211 shares in the last quarter. Quantinno Capital Management LP boosted its position in Haemonetics by 9.0% in the second quarter. Quantinno Capital Management LP now owns 3,492 shares of the medical instruments supplier's stock valued at $261,000 after buying an additional 289 shares in the last quarter. UMB Bank n.a. raised its position in Haemonetics by 110.9% in the 4th quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier's stock valued at $47,000 after purchasing an additional 306 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Haemonetics in the fourth quarter worth about $26,000. Finally, Leonteq Securities AG acquired a new stake in shares of Haemonetics in the fourth quarter valued at approximately $30,000. Institutional investors own 99.67% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BTIG Research increased their target price on Haemonetics from $96.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Barrington Research increased their target price on Haemonetics from $95.00 to $118.00 and gave the stock an "outperform" rating in a report on Wednesday, August 19th. Wall Street Zen raised shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, Robert W. Baird increased their price target on Haemonetics from $96.00 to $119.00 and gave the company an "outperform" rating in a research report on Friday, August 21st. 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.56.

Haemonetics Stock Performance

NYSE HAE opened at $103.83 on Friday. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.10 and a beta of 0.52. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. Haemonetics Corporation has a twelve month low of $47.31 and a twelve month high of $109.57. The stock has a fifty day simple moving average of $84.89 and a 200 day simple moving average of $69.96.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The company had revenue of $339.38 million during the quarter, compared to analysts' expectations of $327.86 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The business's quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Haemonetics Corporation will post 5.29 EPS for the current 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.

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