Engineers Gate Manager LP Has $897,000 Holdings in Haemonetics Corporation $HAE

Key Points

• Engineers Gate Manager LP cut its Haemonetics stake by 78.9% in the second quarter, selling 44,752 shares and retaining 11,964 shares valued at approximately $897,000. Institutional investors and hedge funds collectively own 99.67% of the company.
• Analysts remain generally positive, with Haemonetics rated a “Moderate Buy.” Recent price-target increases range from $110 to $125, while the consensus target is $99.78.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in EPS versus the $1.08 consensus and revenue of $339.38 million versus $327.86 million; revenue increased 5.5% year over year.

Engineers Gate Manager LP lessened its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 78.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,964 shares of the medical instruments supplier's stock after selling 44,752 shares during the quarter. Engineers Gate Manager LP's holdings in Haemonetics were worth $897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC bought a new stake in Haemonetics in the 2nd quarter valued at $316,000. Integrated Wealth Concepts LLC bought a new stake in shares of Haemonetics in the second quarter valued at about $122,000. Squarepoint Ops LLC grew its position in Haemonetics by 194.1% during the second quarter. Squarepoint Ops LLC now owns 86,124 shares of the medical instruments supplier's stock worth $6,459,000 after buying an additional 56,843 shares in the last quarter. Corient Private Wealth LP grew its position in Haemonetics by 120.8% during the second quarter. Corient Private Wealth LP now owns 64,693 shares of the medical instruments supplier's stock worth $4,852,000 after buying an additional 35,389 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Haemonetics during the second quarter worth about $315,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on HAE shares. Wall Street Zen raised Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Robert W. Baird lifted their price objective on Haemonetics from $96.00 to $119.00 and gave the stock an "outperform" rating in a report on Friday, August 21st. Weiss Ratings upgraded Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. BTIG Research upped their target price on Haemonetics from $96.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Finally, Raymond James Financial raised their target price on Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. 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 company's stock. According to MarketBeat.com, Haemonetics presently has an average rating of "Moderate Buy" and an average price target of $99.78.

Haemonetics Price Performance

Shares of HAE stock opened at $108.46 on Friday. The stock's fifty day simple moving average is $93.65 and its 200 day simple moving average is $74.59. Haemonetics Corporation has a one year low of $47.31 and a one year high of $110.45. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 53.17, a P/E/G ratio of 2.17 and a beta of 0.54. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91.

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

About Haemonetics

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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