Jupiter Topco LLC Takes $13.59 Million Position in Haemonetics Corporation $HAE

Key Points

• Jupiter Topco LLC acquired 181,141 Haemonetics shares worth approximately $13.59 million, representing a 0.40% stake. Institutional investors collectively own 99.67% of the company.
• Analyst sentiment is positive, with Haemonetics receiving a consensus “Moderate Buy” rating and an average price target of $97.56; several firms recently raised their targets.
• Haemonetics exceeded quarterly expectations with adjusted EPS of $1.14 versus $1.08 expected and revenue of $339.38 million, up 5.5% year over year. Shares recently traded at $103.83, near the 12-month high of $109.57.

Jupiter Topco LLC bought a new position in Haemonetics Corporation (NYSE:HAE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 181,141 shares of the medical instruments supplier's stock, valued at approximately $13,586,000. Jupiter Topco LLC owned 0.40% of Haemonetics at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HAE. Nierenberg Investment Management Company LLC bought a new position in Haemonetics in the 2nd quarter worth about $1,971,000. Renaissance Technologies LLC bought a new stake in shares of Haemonetics during the first quarter valued at approximately $2,435,000. Rice Hall James & Associates LLC acquired a new position in shares of Haemonetics during the second quarter worth approximately $3,828,000. Aurora Investment Counsel acquired a new position in shares of Haemonetics during the second quarter worth approximately $1,913,000. Finally, North Peak Capital Management LLC grew its holdings in Haemonetics by 204.4% in the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier's stock worth $88,405,000 after buying an additional 740,626 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barrington Research raised their target price on Haemonetics from $95.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Citigroup increased their price target on Haemonetics from $79.00 to $92.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. BTIG Research raised their price target on Haemonetics from $96.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Weiss Ratings upgraded shares of Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Finally, Bank of America raised shares of Haemonetics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $72.00 to $80.00 in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.56.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $103.83 on Friday. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.08 and a beta of 0.52. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $109.57. The stock's 50 day moving average price is $84.89 and its 200 day moving average price is $69.96.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The firm had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. During the same period last year, the company posted $1.10 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal year.

Haemonetics Company 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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