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 acquired a new stake in Haemonetics Corporation (NYSE:HAE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,024 shares of the medical instruments supplier's stock, valued at approximately $1,082,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HAE. TD Waterhouse Canada Inc. purchased a new position in shares of Haemonetics during the fourth quarter worth approximately $25,000. Covestor Ltd boosted its position in shares of Haemonetics by 146.8% during the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock worth $58,000 after purchasing an additional 439 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Haemonetics during the 1st quarter worth $65,000. KBC Group NV raised its stake in Haemonetics by 19.9% during the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock worth $154,000 after acquiring an additional 401 shares in the last quarter. Finally, Vise Technologies Inc. boosted its holdings in shares of Haemonetics by 8.7% in the fourth quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock valued at $221,000 after acquiring an additional 225 shares in the last quarter. Institutional investors own 99.67% of the company's stock.

Haemonetics Stock Down 0.6%

Shares of Haemonetics stock traded down $0.32 during trading hours on Tuesday, reaching $52.16. The company's stock had a trading volume of 301,493 shares, compared to its average volume of 783,852. The stock's fifty day simple moving average is $72.56 and its two-hundred day simple moving average is $67.23. The company has a market capitalization of $2.51 billion, a P/E ratio of 15.95, a P/E/G ratio of 0.88 and a beta of 0.40. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.72. Haemonetics Corporation has a one year low of $52.25 and a one year high of $94.99.

Haemonetics (NYSE:HAE - Get Free Report) last announced its earnings results 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 business had revenue of $321.39 million for the quarter, compared to analyst estimates of $305.12 million. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%. The company's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 EPS. On average, research analysts forecast that Haemonetics Corporation will post 4.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HAE has been the subject of several analyst reports. Baird R W upgraded shares of Haemonetics to a "strong-buy" rating in a research note on Wednesday, June 25th. Citigroup raised Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a report on Wednesday, July 9th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $62.00 price objective (down from $85.00) on shares of Haemonetics in a research report on Friday. Needham & Company LLC cut their target price on shares of Haemonetics from $84.00 to $68.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Mizuho lowered their price objective on Haemonetics from $90.00 to $70.00 and set an "outperform" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.18.

Haemonetics Profile

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.