Verdence Capital Advisors LLC Invests $302,000 in Haemonetics Co. (NYSE:HAE)

Verdence Capital Advisors LLC acquired a new stake in shares of Haemonetics Co. (NYSE:HAE) in the third quarter, HoldingsChannel reports. The institutional investor acquired 3,762 shares of the medical instruments supplier’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Haemonetics in the first quarter worth $114,000. ProShare Advisors LLC increased its stake in Haemonetics by 4.7% in the 1st quarter. ProShare Advisors LLC now owns 11,490 shares of the medical instruments supplier’s stock worth $981,000 after buying an additional 516 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Haemonetics by 15.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,475 shares of the medical instruments supplier’s stock valued at $1,363,000 after acquiring an additional 2,160 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Haemonetics in the first quarter valued at about $1,723,000. Finally, Covestor Ltd boosted its stake in shares of Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after acquiring an additional 438 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HAE has been the topic of a number of research analyst reports. CL King began coverage on Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 price target on the stock. Barrington Research reissued an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a report on Friday, November 8th. Citigroup reduced their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. BTIG Research started 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. Finally, Bank of America assumed coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Stock Up 2.2 %

Shares of NYSE:HAE opened at $93.38 on Wednesday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 1.37 and a beta of 0.32. Haemonetics Co. has a 12 month low of $70.25 and a 12 month high of $97.97. The company has a current ratio of 3.49, a quick ratio of 2.33 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average price of $76.20 and a 200 day moving average price of $82.63.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 22.67% and a net margin of 9.10%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.99 EPS. As a group, equities research analysts predict that Haemonetics Co. will post 4.59 earnings per share for the current year.

Haemonetics Profile

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.