Legal & General Group Plc Makes New $4.75 Million Investment in Haemonetics Corporation $HAE

Legal & General Group Plc purchased a new position in shares of Haemonetics Corporation (NYSE:HAE) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 63,294 shares of the medical instruments supplier’s stock, valued at approximately $4,747,000.

Several other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Haemonetics by 372.8% in the third quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier’s stock valued at $102,814,000 after buying an additional 1,678,630 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $110,615,000 after acquiring an additional 1,254,035 shares during the last quarter. Millennium Management LLC lifted its stake in Haemonetics by 4,296.3% in 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 in the last quarter. North Peak Capital Management LLC boosted its holdings in shares of 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 worth $88,405,000 after purchasing an additional 740,626 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Haemonetics in the second quarter valued at approximately $24,906,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Trading Down 0.3%

Shares of HAE stock opened at $102.66 on Friday. Haemonetics Corporation has a 1-year low of $47.31 and a 1-year high of $109.57. The firm has a market cap of $4.67 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 2.06 and a beta of 0.54. The company has a 50-day moving average of $87.19 and a two-hundred day moving average of $71.30. 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 (NYSE:HAE) last issued its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. The firm had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. On average, analysts predict that Haemonetics Corporation will post 5.29 EPS for the current year.

Wall Street Analyst Weigh In

HAE has been the subject of several recent research reports. Weiss Ratings raised Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.00 to $80.00 in a research note on Friday, May 22nd. Barrington Research lifted their price target on Haemonetics from $95.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Citigroup raised their price objective on shares of Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Robert W. Baird increased their price target on shares of Haemonetics from $96.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.78.

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.