Citigroup Inc. Has $39.76 Million Position in Haemonetics Corporation (NYSE:HAE)

Key Points

• Citigroup Inc. increased its holdings in Haemonetics Corporation by 87.3%, owning approximately 1.25% of the company, valued at about $39.76 million.
• Wall Street analysts are mixed on Haemonetics; while some have lowered their price targets, Citigroup upgraded their rating to buy with a target price of $90.00.
• Haemonetics Corporation reported earnings of $1.10 per share, exceeding expectations, but experienced a 4.4% decline in revenue year-over-year.

Citigroup Inc. increased its stake in Haemonetics Corporation (NYSE:HAE - Free Report) by 87.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,565 shares of the medical instruments supplier's stock after acquiring an additional 291,574 shares during the period. Citigroup Inc. owned approximately 1.25% of Haemonetics worth $39,755,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Voya Investment Management LLC raised its stake in Haemonetics by 820.5% in the fourth quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock valued at $24,748,000 after buying an additional 282,521 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Haemonetics by 9.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 48,068 shares of the medical instruments supplier's stock worth $3,753,000 after purchasing an additional 4,217 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Haemonetics by 7.3% during the fourth quarter. Stifel Financial Corp now owns 14,776 shares of the medical instruments supplier's stock worth $1,154,000 after purchasing an additional 1,006 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Haemonetics by 434.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier's stock worth $24,522,000 after purchasing an additional 255,338 shares during the last quarter. Finally, Hood River Capital Management LLC grew its holdings in shares of Haemonetics by 6.8% during the fourth quarter. Hood River Capital Management LLC now owns 214,290 shares of the medical instruments supplier's stock worth $16,732,000 after purchasing an additional 13,710 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and set a $100.00 price objective on shares of Haemonetics in a report on Tuesday, May 20th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $62.00 price objective (down previously from $85.00) on shares of Haemonetics in a report on Friday, August 8th. Robert W. Baird assumed coverage on Haemonetics in a report on Thursday, June 26th. They set an "outperform" rating and a $87.00 price objective on the stock. Citigroup raised Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a report on Wednesday, July 9th. Finally, Wall Street Zen lowered Haemonetics from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Haemonetics has an average rating of "Moderate Buy" and a consensus price target of $85.18.

Haemonetics Stock Down 3.0%

Shares of Haemonetics stock traded down $1.62 during midday trading on Thursday, reaching $52.26. 1,398,152 shares of the company's stock traded hands, compared to its average volume of 799,335. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.96 and a beta of 0.40. The company's 50 day simple moving average is $71.89 and its 200 day simple moving average is $67.04. 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 52 week low of $50.68 and a 52 week high of $94.99.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The company had revenue of $321.39 million for the quarter, compared to analyst estimates of $305.12 million. During the same period last year, the business posted $1.02 EPS. The business's quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts expect that Haemonetics Corporation will post 4.55 earnings per share for the current fiscal year.

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.