Grandeur Peak Global Advisors LLC Sells 12,159 Shares of Haemonetics Corporation $HAE

Key Points

• Grandeur Peak Global Advisors cut its Haemonetics stake by 48% in the second quarter, selling 12,159 shares and retaining 13,185 shares valued at approximately $989,000.
• Institutional ownership remains extremely high at 99.67%, while several major investors—including UBS Asset Management and Bank of America—added or initiated positions.
• Haemonetics reported better-than-expected quarterly results, with EPS of $1.14 and revenue of $339.38 million, up 5.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.56.

Grandeur Peak Global Advisors LLC decreased its stake in Haemonetics Corporation (NYSE:HAE - Free Report) by 48.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,185 shares of the medical instruments supplier's stock after selling 12,159 shares during the period. Grandeur Peak Global Advisors LLC's holdings in Haemonetics were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Two Sigma Securities LLC bought a new stake in Haemonetics in the 2nd quarter valued at $356,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Haemonetics by 5.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,611 shares of the medical instruments supplier's stock worth $10,771,000 after purchasing an additional 7,914 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Haemonetics during the second quarter valued at about $54,000. Corient Private Wealth LP acquired a new position in shares of Haemonetics during the second quarter valued at about $4,852,000. Finally, Bank of America Corp DE bought a new stake in shares of Haemonetics in the second quarter valued at about $33,326,000. Institutional investors own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James Financial restated an "outperform" rating and set a $105.00 price target on shares of Haemonetics in a research note on Friday, August 7th. Bank of America raised Haemonetics from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $72.00 to $80.00 in a report on Friday, May 22nd. Wall Street Zen upgraded Haemonetics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Citigroup raised their target price on Haemonetics from $79.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Haemonetics from $62.00 to $86.00 and gave the company a "neutral" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.56.

Haemonetics Trading Down 0.1%

HAE stock opened at $103.83 on Monday. Haemonetics Corporation has a 1-year low of $47.31 and a 1-year high of $109.57. The firm has a market cap of $4.72 billion, a P/E ratio of 50.90, a P/E/G ratio of 2.08 and a beta of 0.52. The business's 50 day moving average is $84.89 and its 200-day moving average is $70.05. The company has a current ratio of 3.08, a quick ratio of 1.91 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 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The business had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. During the same quarter last year, the company earned $1.10 EPS. Haemonetics's revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal 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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