Global Alpha Capital Management Ltd. Purchases 10,452 Shares of Haemonetics Corporation (NYSE:HAE)

Key Points

• Global Alpha Capital Management Ltd. increased its stake in Haemonetics Corporation by 61.1%, acquiring 10,452 shares during the 1st quarter, bringing its total ownership to 27,553 shares valued at approximately $1.75 million.
• Several analysts have downgraded their price targets for Haemonetics, with JPMorgan lowering their target from $85 to $62, while JMP Securities maintains a target of $100.
• Haemonetics reported a quarterly EPS of $1.10, exceeding expectations, despite a 4.4% decline in revenue year-over-year, totaling $321.39 million.

Global Alpha Capital Management Ltd. boosted its position in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 61.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,553 shares of the medical instruments supplier's stock after acquiring an additional 10,452 shares during the period. Global Alpha Capital Management Ltd. owned approximately 0.05% of Haemonetics worth $1,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in shares of Haemonetics by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the medical instruments supplier's stock valued at $896,000 after purchasing an additional 200 shares during the period. CWC Advisors LLC. grew its stake in shares of Haemonetics by 7.4% in the 4th quarter. CWC Advisors LLC. now owns 3,083 shares of the medical instruments supplier's stock valued at $241,000 after purchasing an additional 212 shares during the period. Vise Technologies Inc. grew its stake in shares of Haemonetics by 8.7% in the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock valued at $221,000 after purchasing an additional 225 shares during the period. TD Waterhouse Canada Inc. bought a new stake in shares of Haemonetics in the 4th quarter valued at approximately $25,000. Finally, KBC Group NV grew its stake in shares of Haemonetics by 19.9% in the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock valued at $154,000 after purchasing an additional 401 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HAE. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $62.00 price objective (down from $85.00) on shares of Haemonetics in a research note on Friday. JMP Securities reiterated a "market outperform" rating and issued a $100.00 price objective on shares of Haemonetics in a research note on Tuesday, May 20th. Wall Street Zen lowered Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Needham & Company LLC lowered their price objective on Haemonetics from $84.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Mizuho lowered their price objective on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.64.

Haemonetics Price Performance

Haemonetics stock opened at $53.88 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.99 and a current ratio of 1.72. The firm has a market cap of $2.59 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.90 and a beta of 0.40. The business's fifty day moving average is $72.88 and its two-hundred day moving average is $67.44. Haemonetics Corporation has a 52 week low of $53.25 and a 52 week high of $94.99.

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

Haemonetics 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.

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