Assenagon Asset Management S.A. Sells 142,292 Shares of Haemonetics Corporation $HAE

Key Points

• Assenagon Asset Management cut its Haemonetics stake by 80.2%, selling 142,292 shares in the second quarter and retaining 35,109 shares worth approximately $2.6 million. Institutional investors collectively own 99.67% of HAE.
• Analyst sentiment remains positive, with Haemonetics holding a “Moderate Buy” consensus rating and an average price target of $90.89; several firms recently upgraded the stock or raised their targets.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in EPS versus $1.08 expected and $339.38 million in revenue, up 5.5% year over year. The stock opened at $90.46, near its 52-week high of $92.25.

Assenagon Asset Management S.A. reduced its position in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 80.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,109 shares of the medical instruments supplier's stock after selling 142,292 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of Haemonetics worth $2,633,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HAE. EverSource Wealth Advisors LLC grew its holdings in shares of Haemonetics by 12.3% in 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 grew its stake 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 purchasing an additional 289 shares in the last quarter. UMB Bank n.a. increased its position in shares of Haemonetics by 110.9% during the 4th quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier's stock worth $47,000 after purchasing an additional 306 shares during the last quarter. Cardinal Capital Management increased its position in shares of Haemonetics by 1.5% during the 4th quarter. Cardinal Capital Management now owns 22,442 shares of the medical instruments supplier's stock worth $1,799,000 after purchasing an additional 321 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Haemonetics during the 4th quarter worth approximately $26,000. 99.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HAE has been the subject of a number of analyst reports. Raymond James Financial reissued an "outperform" rating and issued a $105.00 price objective on shares of Haemonetics in a research report on Friday, August 7th. Wall Street Zen upgraded Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Mizuho boosted their price target on Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Bank of America upgraded Haemonetics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Haemonetics from $62.00 to $86.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Haemonetics presently has a consensus rating of "Moderate Buy" and an average target price of $90.89.

Haemonetics Price Performance

HAE stock opened at $90.46 on Friday. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 44.34, a P/E/G ratio of 1.83 and a beta of 0.52. 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 company has a 50 day simple moving average of $78.70 and a 200 day simple moving average of $67.02. Haemonetics Corporation has a 1 year low of $47.31 and a 1 year high of $92.25.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.12% and a return on equity of 27.55%. The company's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 EPS. Research analysts anticipate that Haemonetics Corporation will post 5.28 EPS for the current fiscal year.

Haemonetics Company 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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