Heartland Advisors Inc. Acquires 62,975 Shares of Haemonetics Corporation (NYSE:HAE)

Key Points

• Heartland Advisors Inc. increased its stake in Haemonetics Corporation by 67.8%, owning approximately 0.31% of the company, valued at $9.9 million after acquiring an extra 62,975 shares in the first quarter.
• Haemonetics reported EPS of $1.24 for the quarter, surpassing expectations, but its quarterly revenue decreased by 3.5% year-over-year, totaling $330.60 million.
• The stock currently has a consensus rating of "Moderate Buy" with a consensus price target of $97.30, amid varying ratings from research analysts.

Heartland Advisors Inc. boosted its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 67.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 155,898 shares of the medical instruments supplier's stock after acquiring an additional 62,975 shares during the period. Heartland Advisors Inc. owned about 0.31% of Haemonetics worth $9,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Haemonetics in the 4th quarter valued at $32,803,000. Voya Investment Management LLC lifted its holdings in shares of Haemonetics by 820.5% during the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock valued at $24,748,000 after acquiring an additional 282,521 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Haemonetics by 434.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier's stock worth $24,522,000 after buying an additional 255,338 shares in the last quarter. Groupama Asset Managment acquired a new position in Haemonetics in the 4th quarter worth $19,520,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Haemonetics in the 4th quarter worth about $19,002,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HAE has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Needham & Company LLC cut their target price on shares of Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Baird R W raised shares of Haemonetics to a "strong-buy" rating in a research note on Wednesday, June 25th. Barrington Research restated an "outperform" rating and set a $95.00 price target on shares of Haemonetics in a report on Friday, July 11th. Finally, Robert W. Baird assumed coverage on shares of Haemonetics in a report on Thursday, June 26th. They set an "outperform" rating and a $87.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Haemonetics presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.30.

Haemonetics Stock Up 1.2%

NYSE:HAE traded up $0.89 during trading hours on Tuesday, hitting $75.55. 462,399 shares of the company traded hands, compared to its average volume of 741,928. The company has a market cap of $3.63 billion, a PE ratio of 22.82, a PEG ratio of 1.22 and a beta of 0.39. Haemonetics Corporation has a one year low of $55.30 and a one year high of $94.99. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 1.12. The firm's 50-day simple moving average is $72.23 and its 200-day simple moving average is $67.63.

Haemonetics (NYSE:HAE - Get Free Report) last posted its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. The business had revenue of $330.60 million during the quarter, compared to analyst estimates of $329.38 million. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities analysts predict that Haemonetics Corporation will post 4.55 earnings per share for the current 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.