The Manufacturers Life Insurance Company Makes New Investment in Haemonetics Corporation $HAE

The Manufacturers Life Insurance Company purchased a new position in shares of Haemonetics Corporation (NYSE:HAE) during the second quarter, Holdings Channel.com reports. The fund purchased 42,536 shares of the medical instruments supplier’s stock, valued at approximately $3,190,000.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Haemonetics by 372.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier’s stock valued at $102,814,000 after purchasing an additional 1,678,630 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Haemonetics by 994.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock worth $110,615,000 after purchasing an additional 1,254,035 shares in the last quarter. Millennium Management LLC grew its position in Haemonetics by 4,296.3% during the 3rd quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier’s stock worth $37,685,000 after purchasing an additional 755,592 shares during the last quarter. North Peak Capital Management LLC increased its stake in Haemonetics by 204.4% during the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock valued at $88,405,000 after purchasing an additional 740,626 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Haemonetics during the 2nd quarter valued at approximately $24,906,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HAE shares. Mizuho lifted their price objective on shares of Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. BTIG Research upped their target price on Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. upped their target price on Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Robert W. Baird raised their target price on Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, August 21st. Finally, Citigroup lifted their price target on Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Haemonetics has an average rating of “Moderate Buy” and a consensus price target of $97.56.

Haemonetics Stock Down 1.1%

HAE stock opened at $101.97 on Wednesday. The firm’s fifty day simple moving average is $86.08 and its 200-day simple moving average is $70.67. The company has a market capitalization of $4.64 billion, a P/E ratio of 49.99, a price-to-earnings-growth ratio of 2.06 and a beta of 0.54. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $109.57.

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

About Haemonetics

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.