Corient Private Wealth LP Acquires 35,389 Shares of Haemonetics Corporation $HAE

Key Points

• Corient Private Wealth LP more than doubled its Haemonetics stake in the second quarter, adding 35,389 shares to own 64,693 shares worth approximately $4.85 million. Institutional investors collectively hold 99.67% of the company.
• Haemonetics reported quarterly EPS of $1.14, exceeding the $1.08 consensus estimate, while revenue rose 5.5% year over year to $339.38 million.
• Shares traded near a 52-week high at $108.46, while analysts maintained a generally positive outlook: the stock carries a “Moderate Buy” consensus rating and a $99.78 average price target, despite recent targets ranging as high as $125.

Corient Private Wealth LP grew its holdings in Haemonetics Corporation (NYSE:HAE - Free Report) by 120.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,693 shares of the medical instruments supplier's stock after purchasing an additional 35,389 shares during the quarter. Corient Private Wealth LP owned about 0.14% of Haemonetics worth $4,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its stake in Haemonetics by 994.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier's stock worth $110,615,000 after buying an additional 1,254,035 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Haemonetics by 21.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier's stock worth $74,731,000 after acquiring an additional 233,119 shares during the last quarter. North Peak Capital Management LLC raised 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 worth $88,405,000 after acquiring an additional 740,626 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Haemonetics by 17.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier's stock valued at $47,400,000 after acquiring an additional 124,020 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Haemonetics in the 2nd quarter valued at about $33,326,000. Institutional investors own 99.67% of the company's stock.

Haemonetics Trading Up 0.8%

Shares of HAE stock opened at $108.46 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. Haemonetics Corporation has a 52-week low of $47.31 and a 52-week high of $110.45. The company has a market capitalization of $4.93 billion, a PE ratio of 53.17, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54. The business's fifty day moving average is $93.65 and its 200 day moving average is $74.59.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The firm had revenue of $339.38 million for the quarter, compared to analysts' expectations of $327.86 million. During the same quarter last year, the firm posted $1.10 EPS. The company's revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Haemonetics Corporation will post 5.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HAE shares. Barrington Research raised their price objective on Haemonetics from $95.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. boosted their price target on shares of Haemonetics from $62.00 to $86.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Raymond James Financial upped their price objective on shares of Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Weiss Ratings raised shares of Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, Mizuho boosted their target price on Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.78.

Haemonetics Profile

Haemonetics Corporation is a medical technology company that develops and markets products and services for blood management. Its offerings support blood and plasma collection, blood component processing, surgical blood salvage, hemostasis testing and hospital transfusion management.

The company's product portfolio includes automated plasma and blood component collection systems, equipment and disposables used in surgical cell salvage, and diagnostic technologies that help healthcare professionals assess coagulation and bleeding risk.

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