Renaissance Technologies LLC Takes Position in Haemonetics Corporation $HAE

Renaissance Technologies LLC bought a new position in shares of Haemonetics Corporation (NYSE:HAE) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 43,200 shares of the medical instruments supplier’s stock, valued at approximately $2,435,000.

Other hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Haemonetics in the fourth quarter valued at approximately $26,000. Leonteq Securities AG acquired a new position in Haemonetics during the 4th quarter worth $30,000. EverSource Wealth Advisors LLC boosted its position in Haemonetics by 2,640.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 396 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Haemonetics in the 4th quarter valued at $34,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Haemonetics in the 4th quarter valued at $40,000. 99.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HAE has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Haemonetics from $62.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday. BTIG Research lifted their price objective on Haemonetics from $84.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Citigroup upped their target price on shares of Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday. Barrington Research set a $95.00 target price on shares of Haemonetics in a research note on Friday. Finally, Bank of America raised shares of Haemonetics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $72.00 to $80.00 in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Haemonetics presently has an average rating of “Moderate Buy” and a consensus target price of $90.89.

Haemonetics Price Performance

Haemonetics stock opened at $86.74 on Tuesday. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $3.95 billion, a P/E ratio of 42.52, a PEG ratio of 1.77 and a beta of 0.52. The business has a 50-day moving average of $77.37 and a 200-day moving average of $66.59. Haemonetics Corporation has a 1 year low of $47.31 and a 1 year high of $88.58.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The business had revenue of $339.38 million for the quarter, compared to the consensus estimate of $327.86 million. During the same period last year, the company posted $1.10 EPS. Haemonetics’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Haemonetics Corporation will post 5.21 EPS for the current year.

Haemonetics Profile

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.