University of Texas Texas AM Investment Management Co. Invests $65,000 in Haemonetics Corporation (NYSE:HAE)

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Haemonetics Corporation (NYSE:HAE) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,025 shares of the medical instruments supplier’s stock, valued at approximately $65,000.

A number of other large investors have also modified their holdings of the business. HighTower Advisors LLC boosted its position in Haemonetics by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 3,353 shares of the medical instruments supplier’s stock valued at $262,000 after buying an additional 244 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Haemonetics in the fourth quarter valued at approximately $789,000. Norges Bank purchased a new stake in Haemonetics in the fourth quarter valued at approximately $32,803,000. Pictet Asset Management Holding SA boosted its position in Haemonetics by 16.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,963 shares of the medical instruments supplier’s stock valued at $544,000 after buying an additional 979 shares during the last quarter. Finally, May Hill Capital LLC purchased a new stake in Haemonetics in the fourth quarter valued at approximately $1,399,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Trading Down 0.7%

Shares of HAE stock opened at $74.66 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.62 and a quick ratio of 0.99. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.22 and a beta of 0.39. The stock has a 50 day simple moving average of $72.23 and a 200-day simple moving average of $67.63. Haemonetics Corporation has a 1-year low of $55.30 and a 1-year high of $94.99.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. The business had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. On average, equities research analysts expect that Haemonetics Corporation will post 4.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Barrington Research reissued an “outperform” rating and issued a $95.00 price target on shares of Haemonetics in a report on Friday, July 11th. Wall Street Zen downgraded Haemonetics from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Needham & Company LLC decreased their price target on Haemonetics from $104.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Robert W. Baird initiated coverage on Haemonetics in a report on Thursday, June 26th. They issued an “outperform” rating and a $87.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.30.

Haemonetics Company 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.