Intech Investment Management LLC Acquires 8,626 Shares of Haemonetics Co. (NYSE:HAE)

Intech Investment Management LLC grew its holdings in shares of Haemonetics Co. (NYSE:HAE) by 62.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,329 shares of the medical instruments supplier’s stock after buying an additional 8,626 shares during the quarter. Intech Investment Management LLC’s holdings in Haemonetics were worth $1,795,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HAE. Price T Rowe Associates Inc. MD increased its holdings in Haemonetics by 38.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 562,454 shares of the medical instruments supplier’s stock worth $48,006,000 after buying an additional 156,665 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Haemonetics by 311.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 25,775 shares of the medical instruments supplier’s stock worth $2,132,000 after purchasing an additional 19,510 shares during the last quarter. Global Alpha Capital Management Ltd. acquired a new position in shares of Haemonetics during the 3rd quarter worth about $806,000. Janus Henderson Group PLC raised its holdings in shares of Haemonetics by 26.8% in the 1st quarter. Janus Henderson Group PLC now owns 29,730 shares of the medical instruments supplier’s stock valued at $2,536,000 after purchasing an additional 6,287 shares during the period. Finally, CWM LLC lifted its stake in Haemonetics by 40.5% in the 2nd quarter. CWM LLC now owns 36,526 shares of the medical instruments supplier’s stock valued at $3,022,000 after purchasing an additional 10,537 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on HAE. Citigroup dropped their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Barrington Research reissued an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research report on Friday, November 8th. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Friday, November 8th. CL King assumed coverage on shares of Haemonetics in a research report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Haemonetics in a research note on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Stock Performance

NYSE:HAE opened at $88.49 on Tuesday. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $4.44 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.33 and a beta of 0.32. The company has a fifty day moving average of $78.99 and a 200-day moving average of $82.29. Haemonetics Co. has a twelve month low of $70.25 and a twelve month high of $97.97.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. During the same quarter in the previous year, the business posted $0.99 EPS. Haemonetics’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Haemonetics Co. will post 4.59 EPS for the current year.

About Haemonetics

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.