Nierenberg Investment Management Company LLC Buys Shares of 26,280 Haemonetics Corporation $HAE

Nierenberg Investment Management Company LLC bought a new stake in shares of Haemonetics Corporation (NYSE:HAE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,280 shares of the medical instruments supplier’s stock, valued at approximately $1,971,000. Haemonetics accounts for about 0.0% of Nierenberg Investment Management Company LLC’s investment portfolio, making the stock its 15th biggest position. Nierenberg Investment Management Company LLC owned approximately 0.06% of Haemonetics at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in Haemonetics during the fourth quarter worth about $26,000. Leonteq Securities AG acquired a new stake in shares of Haemonetics in the fourth quarter worth $30,000. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 396 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Haemonetics during the 4th quarter worth $34,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Haemonetics during the 4th quarter worth about $40,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HAE has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Haemonetics from $62.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Mizuho raised their target price on shares of Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. BTIG Research upped their price target on Haemonetics from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Raymond James Financial reiterated an “outperform” rating and issued a $105.00 price objective on shares of Haemonetics in a research note on Friday, August 7th. Finally, Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $72.00 to $80.00 in a report on Friday, May 22nd. One research 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.56.

Haemonetics Trading Down 1.0%

HAE traded down $1.00 during trading on Friday, reaching $104.00. 160,879 shares of the company’s stock were exchanged, compared to its average volume of 847,341. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40. Haemonetics Corporation has a one year low of $47.31 and a one year high of $109.57. The firm has a fifty day moving average price of $84.30 and a two-hundred day moving average price of $69.72. The stock has a market capitalization of $4.73 billion, a PE ratio of 50.98, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $339.38 million for the quarter, compared to analysts’ expectations of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.Haemonetics’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. As a group, equities research analysts forecast that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal 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.