Corient Private Wealth LP Takes Position in Haemonetics Corporation $HAE

Key Points

• Corient Private Wealth LP initiated a position in Haemonetics by purchasing 64,693 shares worth approximately $4.85 million, while institutional investors and hedge funds collectively own 99.67% of the company.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a consensus price target of $97.56; several firms recently raised their targets to between $90 and $119.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in adjusted EPS versus the $1.08 consensus and revenue of $339.38 million, up 5.5% year over year.

Corient Private Wealth LP purchased a new position in shares of Haemonetics Corporation (NYSE:HAE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,693 shares of the medical instruments supplier's stock, valued at approximately $4,852,000. Corient Private Wealth LP owned approximately 0.14% of Haemonetics at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in Haemonetics in the second quarter valued at $33,326,000. American Capital Management Inc. acquired a new position in Haemonetics during the 2nd quarter worth $5,019,000. Freestone Grove Partners LP bought a new stake in shares of Haemonetics in the 2nd quarter worth about $355,000. Caisse de depot et placement du Quebec bought a new stake in shares of Haemonetics in the 2nd quarter worth about $292,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Haemonetics in the 2nd quarter valued at about $13,586,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Haemonetics from $96.00 to $119.00 and gave the stock an "outperform" rating in a research report on Friday, August 21st. Mizuho boosted their price objective on Haemonetics from $85.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Wall Street Zen upgraded Haemonetics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Citigroup increased their target price on Haemonetics from $79.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Finally, BTIG Research lifted their target price on Haemonetics from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. One equities 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. Based on data from MarketBeat.com, Haemonetics has an average rating of "Moderate Buy" and an average price target of $97.56.

Haemonetics Stock Down 1.2%

HAE stock opened at $102.72 on Tuesday. The stock has a market cap of $4.67 billion, a PE ratio of 50.35, a price-to-earnings-growth ratio of 2.08 and a beta of 0.52. The firm's 50-day simple moving average is $85.49 and its 200 day simple moving average is $70.35. Haemonetics Corporation has a fifty-two week low of $47.31 and a fifty-two week high of $109.57. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40.

Haemonetics (NYSE:HAE - Get Free Report) last posted its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The firm had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. During the same period in the previous year, the business posted $1.10 EPS. Haemonetics's revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Haemonetics Corporation will post 5.29 EPS for the current year.

Haemonetics Profile

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company's offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company's product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.

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