Easterly Investment Partners LLC Acquires New Stake in Haemonetics Corporation (NYSE:HAE)

Easterly Investment Partners LLC acquired a new stake in shares of Haemonetics Corporation (NYSE:HAE) in the first quarter, HoldingsChannel reports. The institutional investor acquired 30,831 shares of the medical instruments supplier’s stock, valued at approximately $1,959,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HAE. TD Waterhouse Canada Inc. bought a new stake in shares of Haemonetics in the 4th quarter worth $25,000. Covestor Ltd increased its holdings in shares of Haemonetics by 146.8% in the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 439 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of Haemonetics in the 4th quarter worth $62,000. KBC Group NV increased its holdings in shares of Haemonetics by 19.9% in the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier’s stock worth $154,000 after purchasing an additional 401 shares in the last quarter. Finally, Vise Technologies Inc. increased its holdings in shares of Haemonetics by 8.7% in the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HAE. Barrington Research reissued an “outperform” rating and issued a $95.00 target price on shares of Haemonetics in a report on Friday, July 11th. Citigroup raised Haemonetics from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday, July 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 price objective on shares of Haemonetics in a report on Tuesday, May 20th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $105.00 price objective (down previously from $115.00) on shares of Haemonetics in a report on Friday, May 9th. Finally, Baird R W raised Haemonetics to a “strong-buy” rating in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Haemonetics presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.30.

Haemonetics Price Performance

NYSE HAE opened at $74.46 on Thursday. The company has a market capitalization of $3.58 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.21 and a beta of 0.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.99 and a current ratio of 1.62. The business’s fifty day moving average is $71.44 and its 200 day moving average is $67.99. Haemonetics Corporation has a fifty-two week low of $55.30 and a fifty-two week high of $94.99.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate of $1.22 by $0.02. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The business had revenue of $330.60 million for the quarter, compared to the consensus estimate of $329.38 million. During the same period in the previous year, the business earned $0.90 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. Sell-side analysts predict that Haemonetics Corporation will post 4.55 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.