Haemonetics Corporation $HAE Stock: Assenagon Asset Management S.A. Raises Holdings

Key Points

• Assenagon Asset Management increased its Haemonetics stake by 1,191.9% in the third quarter, acquiring 418,470 additional shares and ending with a 1.00% ownership position valued at approximately $47.8 million. Institutional investors collectively own 99.67% of the company.
• Haemonetics reported quarterly earnings of $1.14 per share, exceeding the $1.08 consensus estimate, while revenue of $339.4 million surpassed expectations and rose 5.5% year over year.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $110. Recent target increases range as high as $130, while the stock recently traded at $118.40.

Assenagon Asset Management S.A. grew its stake in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 1,191.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453,579 shares of the medical instruments supplier's stock after acquiring an additional 418,470 shares during the period. Assenagon Asset Management S.A. owned 1.00% of Haemonetics worth $47,762,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of Haemonetics by 104.5% during the third quarter. Fortitude Family Office LLC now owns 272 shares of the medical instruments supplier's stock worth $29,000 after buying an additional 139 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Haemonetics by 11.3% in the third quarter. GAMMA Investing LLC now owns 894 shares of the medical instruments supplier's stock valued at $94,000 after acquiring an additional 91 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Haemonetics by 55.8% in the third quarter. Farther Finance Advisors LLC now owns 946 shares of the medical instruments supplier's stock valued at $100,000 after acquiring an additional 339 shares in the last quarter. Cim Investment Management Inc. acquired a new position in shares of Haemonetics in the second quarter valued at about $450,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Haemonetics during the 2nd quarter worth approximately $304,000. Institutional investors own 99.67% of the company's stock.

Haemonetics Stock Performance

Haemonetics stock opened at $118.40 on Friday. The business's 50-day moving average price is $105.52 and its two-hundred day moving average price is $81.64. The stock has a market cap of $5.39 billion, a PE ratio of 58.04, a P/E/G ratio of 2.36 and a beta of 0.61. Haemonetics Corporation has a 12-month low of $48.98 and a 12-month high of $123.77. The company has a quick ratio of 1.91, a current ratio of 3.08 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. The firm had revenue of $339.38 million for the quarter, compared to analysts' expectations of $327.86 million. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The company's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. As a group, analysts expect that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup raised their target price on shares of Haemonetics from $79.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Weiss Ratings upgraded Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on Haemonetics from $62.00 to $86.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. BTIG Research increased their target price on Haemonetics from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, October 8th. Finally, Raymond James Financial increased their target price on Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. One 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

About Haemonetics

Haemonetics Corporation NYSE: HAE is a medical technology company that develops and supplies products and software for blood management. Its solutions are used to collect, process, manage and analyze blood and blood components, helping healthcare providers and blood and plasma collection organizations improve the availability, safety and efficiency of transfusion-related care.

The company's portfolio includes plasma and blood component collection systems, disposable collection and processing kits, surgical blood recovery and autotransfusion systems, and technologies used to assess coagulation and hemostasis.

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