Wagner Bowman Management Corp acquired a new position in shares of Haemonetics Co. (NYSE:HAE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,250 shares of the medical instruments supplier’s stock, valued at approximately $270,000.
Other hedge funds also recently made changes to their positions in the company. Alpha Windward LLC purchased a new position in shares of Haemonetics during the 2nd quarter worth about $29,000. Financial Gravity Wealth Inc. purchased a new position in Haemonetics in the second quarter valued at approximately $40,000. Quadrant Capital Group LLC raised its holdings in Haemonetics by 708.8% in the first quarter. Quadrant Capital Group LLC now owns 647 shares of the medical instruments supplier’s stock valued at $54,000 after buying an additional 567 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Haemonetics in the second quarter valued at approximately $90,000. Finally, TradeLink Capital LLC purchased a new position in Haemonetics in the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
NYSE HAE traded up $2.42 during mid-day trading on Friday, hitting $138.52. The company’s stock had a trading volume of 210,700 shares, compared to its average volume of 366,149. Haemonetics Co. has a 52-week low of $80.24 and a 52-week high of $138.95. The stock’s fifty day simple moving average is $124.47 and its two-hundred day simple moving average is $101.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.10 and a quick ratio of 1.34. The firm has a market capitalization of $7.03 billion, a P/E ratio of 57.96, a price-to-earnings-growth ratio of 3.30 and a beta of 0.82.
Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.18. Haemonetics had a net margin of 5.05% and a return on equity of 21.07%. The firm had revenue of $238.50 million for the quarter, compared to analyst estimates of $236.82 million. During the same quarter last year, the firm posted $0.59 earnings per share. Haemonetics’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Haemonetics Co. will post 3.03 earnings per share for the current fiscal year.
In other Haemonetics news, CEO Christopher Simon sold 24,412 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $99.39, for a total value of $2,426,308.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William P. Mr. Burke sold 411 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $103.38, for a total transaction of $42,489.18. The disclosure for this sale can be found here. Insiders sold 48,830 shares of company stock valued at $5,153,165 in the last ninety days. 1.32% of the stock is owned by corporate insiders.
HAE has been the topic of several research reports. TheStreet upgraded shares of Haemonetics from a “c+” rating to a “b-” rating in a report on Tuesday, May 7th. Morgan Stanley raised their price target on shares of Haemonetics from $128.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Raymond James raised their price target on shares of Haemonetics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barrington Research restated an “outperform” rating and issued a $139.00 price target (up previously from $116.00) on shares of Haemonetics in a report on Wednesday, August 7th. Finally, JMP Securities raised their price target on shares of Haemonetics to $145.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $140.67.
Haemonetics Company Profile
Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.
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