Quantinno Capital Management LP Has $1.73 Million Stock Holdings in Haemonetics Corporation $HAE

Key Points

• Quantinno Capital Management increased its Haemonetics stake by 438% in the first quarter, acquiring 25,000 additional shares and bringing its holdings to 30,708 shares worth approximately $1.73 million.
• Haemonetics reported quarterly revenue of $339.38 million and EPS of $1.14, beating analyst estimates, while revenue rose 5.5% year over year. Institutional investors own 99.67% of the company.
• Analyst sentiment is favorable, with a consensus rating of “Moderate Buy” and an average price target of $90.89; BTIG Research recently raised its target to $96.

Quantinno Capital Management LP boosted its stake in Haemonetics Corporation (NYSE:HAE - Free Report) by 438.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,708 shares of the medical instruments supplier's stock after purchasing an additional 25,000 shares during the period. Quantinno Capital Management LP owned about 0.07% of Haemonetics worth $1,731,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Haemonetics during the fourth quarter worth $26,000. Leonteq Securities AG acquired a new stake in shares of Haemonetics during the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Haemonetics by 2,640.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier's stock valued at $31,000 after acquiring an additional 396 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Haemonetics during the 4th quarter valued at $34,000. Finally, Bayforest Capital Ltd bought a new stake in Haemonetics during the 4th quarter worth $40,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Stock Up 0.6%

Haemonetics stock opened at $87.16 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. Haemonetics Corporation has a 52-week low of $47.31 and a 52-week high of $88.88. The firm has a 50 day moving average price of $77.78 and a two-hundred day moving average price of $66.71. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.74 and a beta of 0.52.

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, topping analysts' consensus estimates of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The firm had revenue of $339.38 million for the quarter, compared to the consensus estimate of $327.86 million. During the same quarter in the previous year, the company earned $1.10 EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts predict that Haemonetics Corporation will post 5.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HAE shares. Bank of America raised Haemonetics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $72.00 to $80.00 in a report on Friday, May 22nd. BTIG Research lifted their price target on Haemonetics from $84.00 to $96.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Haemonetics from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 25th. Mizuho upped their price objective on Haemonetics from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday. One research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.89.

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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