William Blair Investment Management LLC Acquires New Shares in Haemonetics Corporation $HAE

Key Points

• William Blair Investment Management acquired 332,075 Haemonetics shares worth approximately $24.9 million, representing about 0.73% of the company. Institutional investors and hedge funds collectively own 99.67% of HAE.
• Haemonetics reported quarterly EPS of $1.14, exceeding estimates by $0.06, while revenue rose 5.5% year over year to $339.38 million. The stock traded near its 12-month high at $108.89.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus rating and an average price target of $97.56, although the stock’s current price is above that target.

William Blair Investment Management LLC bought a new stake in Haemonetics Corporation (NYSE:HAE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 332,075 shares of the medical instruments supplier's stock, valued at approximately $24,906,000. William Blair Investment Management LLC owned approximately 0.73% of Haemonetics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nierenberg Investment Management Company LLC bought a new stake in shares of Haemonetics in the 2nd quarter valued at approximately $1,971,000,000. Renaissance Technologies LLC bought a new position in Haemonetics during the first quarter valued at approximately $2,435,000. Rice Hall James & Associates LLC acquired a new stake in Haemonetics in the second quarter valued at approximately $3,828,000. Aurora Investment Counsel acquired a new stake in Haemonetics in the second quarter valued at approximately $1,913,000. Finally, Quantinno Capital Management LP grew its position in Haemonetics by 438.0% in the first quarter. Quantinno Capital Management LP now owns 30,708 shares of the medical instruments supplier's stock worth $1,731,000 after acquiring an additional 25,000 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Trading Up 0.6%

NYSE:HAE opened at $108.89 on Friday. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $109.57. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 53.38, a P/E/G ratio of 2.18 and a beta of 0.52. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The company's 50 day moving average is $81.69 and its 200-day moving average is $68.48.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share 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 business had revenue of $339.38 million during the quarter, compared to analysts' expectations of $327.86 million. During the same period in the previous year, the company earned $1.10 earnings per share. Haemonetics's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts anticipate that Haemonetics Corporation will post 5.28 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on HAE shares. Raymond James Financial restated an "outperform" rating and set a $105.00 price target on shares of Haemonetics in a research note on Friday, August 7th. Weiss Ratings raised shares of Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Mizuho upped their price objective on shares of Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Wall Street Zen raised shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Finally, Citigroup raised their target price on Haemonetics from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, August 7th. One research 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $97.56.

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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