Haemonetics Corporation (NYSE:HAE) Shares Purchased by Citigroup Inc.

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 position in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 87.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 625,565 shares of the medical instruments supplier's stock after purchasing an additional 291,574 shares during the quarter. Citigroup Inc. owned 1.25% of Haemonetics worth $39,755,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP raised its holdings in shares of Haemonetics by 0.7% in the first quarter. Royce & Associates LP now owns 1,161,296 shares of the medical instruments supplier's stock worth $73,800,000 after acquiring an additional 8,028 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Haemonetics by 22.1% in the first quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier's stock valued at $71,070,000 after purchasing an additional 202,609 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Haemonetics by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier's stock valued at $77,470,000 after purchasing an additional 10,990 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Haemonetics by 20.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 966,167 shares of the medical instruments supplier's stock valued at $60,888,000 after purchasing an additional 165,118 shares during the period. Finally, Northern Trust Corp grew its position in Haemonetics by 16.1% during the fourth quarter. Northern Trust Corp now owns 678,261 shares of the medical instruments supplier's stock valued at $52,959,000 after acquiring an additional 93,848 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HAE shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $62.00 price target (down previously from $85.00) on shares of Haemonetics in a research report on Friday, August 8th. Mizuho lowered their price target on Haemonetics from $90.00 to $70.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Barrington Research lowered their price target on Haemonetics from $95.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Raymond James Financial downgraded Haemonetics from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $105.00 to $78.00 in a research report on Monday, August 11th. Finally, JMP Securities reissued a "market outperform" rating and set a $100.00 price target on shares of Haemonetics in a research report on Tuesday, May 20th. One equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.18.

Haemonetics Stock Up 2.9%

Shares of NYSE:HAE traded up $1.52 during trading on Friday, hitting $53.85. The company's stock had a trading volume of 1,238,326 shares, compared to its average volume of 1,074,747. 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 fifty-two week low of $50.68 and a fifty-two week high of $94.99. The stock's 50-day moving average price is $71.19 and its two-hundred day moving average price is $66.80. The company has a market capitalization of $2.59 billion, a PE ratio of 16.47, a PEG ratio of 0.96 and a beta of 0.40.

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

Haemonetics Company 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.