Intech Investment Management LLC Buys 8,626 Shares of Haemonetics Co. (NYSE:HAE)

Intech Investment Management LLC raised its stake in shares of Haemonetics Co. (NYSE:HAE) by 62.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 22,329 shares of the medical instruments supplier’s stock after acquiring an additional 8,626 shares during the period. Intech Investment Management LLC’s holdings in Haemonetics were worth $1,795,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of Haemonetics during the second quarter valued at about $39,000. Daiwa Securities Group Inc. purchased a new stake in Haemonetics in the 2nd quarter valued at about $82,000. Canada Pension Plan Investment Board bought a new position in shares of Haemonetics during the 2nd quarter worth approximately $83,000. Nisa Investment Advisors LLC boosted its stake in shares of Haemonetics by 124.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after buying an additional 632 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Haemonetics in the second quarter valued at approximately $140,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HAE. Citigroup cut their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. CL King initiated coverage on shares of Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 price target on the stock. BTIG Research began coverage on shares of Haemonetics in a report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price objective for the company. Bank of America initiated coverage on shares of Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research note on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Stock Performance

NYSE HAE opened at $88.49 on Tuesday. The firm has a market cap of $4.44 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.32. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The company’s 50 day moving average is $78.99 and its 200-day moving average is $82.29. Haemonetics Co. has a 12-month low of $70.25 and a 12-month high of $97.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. Haemonetics’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. Sell-side analysts predict that Haemonetics Co. will post 4.59 earnings per share for the current year.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.