Expect Equity LLC Invests $3.08 Million in Haemonetics Corporation $HAE

Key Points

• Expect Equity LLC initiated a $3.08 million position in Haemonetics during the second quarter, purchasing 41,026 shares. Institutional investors and hedge funds collectively own 99.67% of the company.
• Haemonetics reported quarterly revenue of $339.38 million and earnings of $1.14 per share, exceeding analyst estimates; revenue increased 5.5% year over year.
• Analyst sentiment is positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $97.56, although shares were trading near a one-year high at $108.35.

Expect Equity LLC purchased a new stake in Haemonetics Corporation (NYSE:HAE - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 41,026 shares of the medical instruments supplier's stock, valued at approximately $3,077,000. Haemonetics comprises 2.0% of Expect Equity LLC's portfolio, making the stock its 18th biggest position. Expect Equity LLC owned approximately 0.09% of Haemonetics as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc bought a new position in Haemonetics during the second quarter worth $4,747,000. The Manufacturers Life Insurance Company bought a new stake in Haemonetics during the second quarter valued at $3,190,000. Cetera Trust Company N.A acquired a new stake in shares of Haemonetics during the second quarter worth $350,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Haemonetics during the second quarter worth $224,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Haemonetics in the 2nd quarter worth about $44,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Stock Down 0.0%

Haemonetics stock opened at $108.35 on Wednesday. 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 one year low of $47.31 and a one year high of $109.57. The company has a 50-day simple moving average of $83.00 and a 200-day simple moving average of $69.11. The firm has a market capitalization of $4.93 billion, a P/E ratio of 53.11, a P/E/G ratio of 2.17 and a beta of 0.52.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data 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 net margin of 7.12% and a return on equity of 27.55%. The firm had revenue of $339.38 million for the quarter, compared to the consensus estimate of $327.86 million. During the same period last year, the firm posted $1.10 EPS. Haemonetics's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Haemonetics Corporation will post 5.28 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. BTIG Research raised their target price on shares of Haemonetics from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. lifted their target price on Haemonetics from $62.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Bank of America raised Haemonetics from a "neutral" rating to a "buy" rating and upped their target price for the company from $72.00 to $80.00 in a report on Friday, May 22nd. Finally, Raymond James Financial reissued an "outperform" rating and issued a $105.00 price target on shares of Haemonetics in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Haemonetics has an average rating of "Moderate Buy" and an average target price of $97.56.

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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