Cary Street Partners Financial LLC Invests $1.08 Million in Haemonetics Corporation (NYSE:HAE)

Key Points

• Cary Street Partners Financial LLC has acquired a new stake in Haemonetics Corporation, investing approximately $1.08 million to purchase 17,024 shares during the 1st quarter.
• Haemonetics reported earnings of $1.10 per share for the last quarter, exceeding analysts' expectations of $1.01, but its revenue decreased by 4.4% compared to the prior year.
• Current analysts rate Haemonetics as a Moderate Buy, with an average price target of $95.70, despite some analysts offering lower projections following recent assessments.

Cary Street Partners Financial LLC bought a new stake in shares of Haemonetics Corporation (NYSE:HAE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,024 shares of the medical instruments supplier's stock, valued at approximately $1,082,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its position in Haemonetics by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the medical instruments supplier's stock valued at $896,000 after acquiring an additional 200 shares during the last quarter. CWC Advisors LLC. boosted its stake in shares of Haemonetics by 7.4% during the 4th quarter. CWC Advisors LLC. now owns 3,083 shares of the medical instruments supplier's stock worth $241,000 after purchasing an additional 212 shares during the period. Vise Technologies Inc. boosted its stake 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. TD Waterhouse Canada Inc. bought a new position in Haemonetics during the 4th quarter valued at about $25,000. Finally, KBC Group NV raised its position in Haemonetics by 19.9% in 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. Hedge funds and other institutional investors own 99.67% of the company's stock.

Haemonetics Price Performance

Shares of HAE stock opened at $55.49 on Friday. Haemonetics Corporation has a twelve month low of $55.30 and a twelve month high of $94.99. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $73.41 and a two-hundred day simple moving average of $67.71. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 1.23 and a beta of 0.40.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.09. The company had revenue of $321.39 million during the quarter, compared to analyst estimates of $305.12 million. Haemonetics had a net margin of 12.32% and a return on equity of 26.37%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. On average, analysts predict that Haemonetics Corporation will post 4.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JMP Securities restated a "market outperform" rating and set a $100.00 target price on shares of Haemonetics in a research report on Tuesday, May 20th. Raymond James Financial restated a "strong-buy" rating and set a $105.00 price objective (down previously from $115.00) on shares of Haemonetics in a report on Friday, May 9th. Wall Street Zen downgraded Haemonetics from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Needham & Company LLC decreased their target price on Haemonetics from $84.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Baird R W raised shares of Haemonetics to a "strong-buy" rating in a research note on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $95.70.

About Haemonetics

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.

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