Haemonetics Co. (NYSE:HAE) Stake Raised by Royce & Associates LP

Royce & Associates LP raised its holdings in Haemonetics Co. (NYSE:HAE) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,210,546 shares of the medical instruments supplier’s stock after buying an additional 30,868 shares during the period. Haemonetics makes up approximately 0.9% of Royce & Associates LP’s portfolio, making the stock its 6th largest position. Royce & Associates LP’s holdings in Haemonetics were worth $97,304,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in Haemonetics in the 2nd quarter valued at about $39,000. Covestor Ltd raised its holdings in Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 438 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Haemonetics in the second quarter worth approximately $82,000. Canada Pension Plan Investment Board acquired a new position in Haemonetics during the 2nd quarter worth approximately $83,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Haemonetics in the 1st quarter valued at approximately $86,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Stock Performance

Shares of HAE stock opened at $90.75 on Friday. The stock’s 50-day moving average price is $76.90 and its 200 day moving average price is $82.71. 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 stock has a market capitalization of $4.56 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 1.43 and a beta of 0.32. Haemonetics Co. has a 52-week low of $70.25 and a 52-week high of $97.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Haemonetics Co. will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HAE. Bank of America started coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a report on Friday, November 8th. BTIG Research assumed coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target on the stock. Finally, CL King started coverage on shares of Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective for the company. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.88.

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.