Bank of New York Mellon Corp Buys Shares of 287,552 Haemonetics Corporation $HAE

Key Points

• Bank of New York Mellon acquired 287,552 Haemonetics shares worth approximately $21.6 million, gaining a 0.63% stake. Institutional investors collectively own 99.67% of the company.
• Analysts remain broadly positive, with one Strong Buy, six Buy, and four Hold ratings. The stock carries a “Moderate Buy” consensus rating and an average price target of $97.56.
• Haemonetics exceeded quarterly expectations, reporting adjusted EPS of $1.14 versus $1.08 expected and revenue of $339.38 million, up 5.5% year over year.

Bank of New York Mellon Corp purchased a new stake in shares of Haemonetics Corporation (NYSE:HAE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 287,552 shares of the medical instruments supplier's stock, valued at approximately $21,566,000. Bank of New York Mellon Corp owned 0.63% of Haemonetics as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Haemonetics by 372.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier's stock valued at $102,814,000 after acquiring an additional 1,678,630 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Haemonetics by 994.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier's stock valued at $110,615,000 after acquiring an additional 1,254,035 shares in the last quarter. Millennium Management LLC lifted its position in shares of Haemonetics by 4,296.3% in the 3rd quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier's stock worth $37,685,000 after purchasing an additional 755,592 shares during the period. North Peak Capital Management LLC increased its holdings in shares of Haemonetics by 204.4% in the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier's stock valued at $88,405,000 after acquiring an additional 740,626 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Haemonetics during the third quarter valued at about $15,703,000. Institutional investors own 99.67% of the company's stock.

Analyst Ratings Changes

HAE has been the subject of a number of research analyst reports. Mizuho raised their price target on shares of Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating and set a $105.00 target price on shares of Haemonetics in a report on Friday, August 7th. BTIG Research lifted their price target on Haemonetics from $96.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Bank of America raised shares of Haemonetics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $72.00 to $80.00 in a report on Friday, May 22nd. Finally, Robert W. Baird lifted their price objective on Haemonetics from $96.00 to $119.00 and gave the stock an "outperform" rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $97.56.

Haemonetics Price Performance

NYSE:HAE opened at $103.83 on Monday. Haemonetics Corporation has a one year low of $47.31 and a one year high of $109.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. The stock has a 50 day moving average price of $84.89 and a 200 day moving average price of $70.05. The stock has a market cap of $4.72 billion, a PE ratio of 50.90, a P/E/G ratio of 2.08 and a beta of 0.52.

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