William Blair Investment Management LLC Buys New Position in Haemonetics Corporation $HAE

William Blair Investment Management LLC bought a new stake in Haemonetics Corporation (NYSE:HAE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 332,075 shares of the medical instruments supplier’s stock, valued at approximately $24,906,000.

Other institutional investors also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Haemonetics during the fourth quarter worth approximately $26,000. Leonteq Securities AG bought a new stake in shares of Haemonetics in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Haemonetics by 2,640.0% in the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock worth $31,000 after acquiring an additional 396 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Haemonetics in the fourth quarter worth $34,000. Finally, Kelleher Financial Advisors bought a new position in Haemonetics during the second quarter worth $38,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Performance

HAE opened at $108.89 on Friday. The stock has a market cap of $4.95 billion, a PE ratio of 53.38, a P/E/G ratio of 2.18 and a beta of 0.52. Haemonetics Corporation has a 1 year low of $47.31 and a 1 year high of $109.57. The stock’s 50 day simple moving average is $81.69 and its 200-day simple moving average is $68.48. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $339.38 million for the quarter, compared to the consensus estimate of $327.86 million. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 earnings per share. Sell-side analysts forecast that Haemonetics Corporation will post 5.28 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on HAE shares. Barrington Research upped their target price on shares of Haemonetics from $95.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Haemonetics from $62.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Robert W. Baird boosted their price objective on shares of Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho upped their price objective on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $105.00 target price on shares of Haemonetics in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average price target of $97.56.

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.