Renaissance Technologies LLC Takes $2.44 Million Position in Haemonetics Corporation $HAE

Key Points

• Renaissance Technologies established a new Haemonetics position worth approximately $2.44 million, purchasing 43,200 shares. Institutional investors and hedge funds collectively own 99.67% of the company.
• Analysts remain broadly positive, with Haemonetics receiving a “Moderate Buy” consensus rating and an average price target of $90.89. Recent targets range from $90 to $105.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in adjusted earnings per share versus a $1.08 estimate and revenue of $339.38 million, up 5.5% year over year.

Renaissance Technologies LLC purchased a new position in Haemonetics Corporation (NYSE:HAE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 43,200 shares of the medical instruments supplier's stock, valued at approximately $2,435,000. Renaissance Technologies LLC owned approximately 0.09% of Haemonetics at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Kemnay Advisory Services Inc. purchased a new stake in Haemonetics in the 4th quarter worth approximately $26,000. Leonteq Securities AG purchased a new position in shares of Haemonetics during the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Haemonetics by 2,640.0% in the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier's stock worth $31,000 after acquiring an additional 396 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Haemonetics in the fourth quarter worth $34,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Haemonetics during the fourth quarter worth $40,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HAE. Raymond James Financial reiterated an "outperform" rating and set a $105.00 price target on shares of Haemonetics in a report on Friday. Barrington Research set a $95.00 price objective on shares of Haemonetics in a research report on Friday. Wall Street Zen raised shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Mizuho increased their price target on shares of Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Finally, Robert W. Baird set a $96.00 price target on shares of Haemonetics in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $90.89.

Haemonetics Stock Down 1.3%

Shares of HAE stock opened at $86.74 on Tuesday. The firm has a market cap of $3.95 billion, a PE ratio of 42.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.52. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $88.58. The stock has a 50 day moving average of $77.37 and a 200-day moving average of $66.59. 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 announced its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share 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 company had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. During the same quarter last year, the firm earned $1.10 EPS. Haemonetics's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Haemonetics Corporation will post 5.21 EPS for the current 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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