Haemonetics Corporation (NYSE:HAE) Shares Bought by Global Alpha Capital Management Ltd.

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. increased its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 61.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new stake in shares of Haemonetics in the 4th quarter worth approximately $25,000. Covestor Ltd grew its holdings in Haemonetics by 146.8% during the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock valued at $58,000 after buying an additional 439 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Haemonetics during the 1st quarter valued at $65,000. KBC Group NV grew its holdings in Haemonetics by 19.9% during the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock valued at $154,000 after buying an additional 401 shares during the last quarter. Finally, Vise Technologies Inc. grew its holdings in Haemonetics by 8.7% during the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock valued at $221,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Needham & Company LLC lowered their target price on Haemonetics from $84.00 to $68.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Baird R W upgraded Haemonetics to a "strong-buy" rating in a report on Wednesday, June 25th. Barrington Research lowered their target price on Haemonetics from $95.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Raymond James Financial cut Haemonetics from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $105.00 to $78.00 in a report on Monday. Finally, Robert W. Baird initiated coverage on Haemonetics in a report on Thursday, June 26th. They set an "outperform" rating and a $87.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.18.

Haemonetics Trading Up 2.7%

Shares of HAE traded up $1.42 during trading hours on Wednesday, hitting $53.65. The stock had a trading volume of 664,062 shares, compared to its average volume of 791,149. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.72. The firm has a market cap of $2.58 billion, a P/E ratio of 16.41, a P/E/G ratio of 0.97 and a beta of 0.40. The company's fifty day simple moving average is $72.21 and its 200 day simple moving average is $67.13. Haemonetics Corporation has a 12-month low of $50.68 and a 12-month high of $94.99.

Haemonetics (NYSE:HAE - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.09. The business 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 quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the company posted $1.02 EPS. Equities research analysts forecast that Haemonetics Corporation will post 4.55 EPS for the current fiscal year.

About Haemonetics

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.