VestGen Advisors LLC Acquires New Shares in Haemonetics Corporation $HAE

Key Points

• VestGen Advisors acquired 27,550 Haemonetics shares in the third quarter, valued at approximately $2.9 million. Institutional investors collectively own 99.67% of the company.
• Haemonetics reported quarterly EPS of $1.14, exceeding the $1.08 consensus estimate, while revenue reached $339.38 million and increased 5.5% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $110; recent targets range from $86 to $130, while the stock opened at $119.84.

VestGen Advisors LLC bought a new position in Haemonetics Corporation (NYSE:HAE - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 27,550 shares of the medical instruments supplier's stock, valued at approximately $2,901,000.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Haemonetics by 11.3% in the 3rd 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 in the last quarter. Abel Hall LLC raised its holdings in shares of Haemonetics by 4.0% during the 3rd quarter. Abel Hall LLC now owns 3,103 shares of the medical instruments supplier's stock valued at $327,000 after buying an additional 119 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Haemonetics by 104.5% during the 3rd quarter. Fortitude Family Office LLC now owns 272 shares of the medical instruments supplier's stock valued at $29,000 after buying an additional 139 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Haemonetics by 12.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier's stock valued at $108,000 after buying an additional 211 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Haemonetics by 55.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 946 shares of the medical instruments supplier's stock worth $100,000 after buying an additional 339 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Price Performance

Shares of Haemonetics stock opened at $119.84 on Friday. 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 one year low of $49.00 and a one year high of $123.77. The business's 50 day simple moving average is $109.79 and its two-hundred day simple moving average is $78.67. The stock has a market capitalization of $5.45 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 2.37 and a beta of 0.61.

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

Analyst Ratings Changes

HAE has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Haemonetics from $62.00 to $86.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Robert W. Baird boosted their price objective on shares of Haemonetics from $96.00 to $119.00 and gave the stock an "outperform" rating in a report on Friday, August 21st. Weiss Ratings raised shares of Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. BTIG Research increased their target price on shares of Haemonetics from $110.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, October 8th. Finally, Citigroup lifted their target price on shares of Haemonetics from $79.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.00.

Haemonetics Profile

Haemonetics Corporation NYSE: HAE is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company's offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.