Rice Hall James & Associates LLC Makes New Investment in Haemonetics Corporation $HAE

Rice Hall James & Associates LLC purchased a new stake in Haemonetics Corporation (NYSE:HAE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 51,038 shares of the medical instruments supplier’s stock, valued at approximately $3,828,000. Rice Hall James & Associates LLC owned 0.11% of Haemonetics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in Haemonetics by 12.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier’s stock worth $108,000 after acquiring an additional 211 shares during the period. Quantinno Capital Management LP boosted its stake in Haemonetics by 9.0% in the second quarter. Quantinno Capital Management LP now owns 3,492 shares of the medical instruments supplier’s stock valued at $261,000 after acquiring an additional 289 shares during the period. UMB Bank n.a. boosted its stake in Haemonetics by 110.9% in the fourth quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 306 shares during the period. Cardinal Capital Management grew its holdings in shares of Haemonetics by 1.5% during the fourth quarter. Cardinal Capital Management now owns 22,442 shares of the medical instruments supplier’s stock valued at $1,799,000 after purchasing an additional 321 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Haemonetics during the fourth quarter valued at approximately $26,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Price Performance

NYSE HAE opened at $89.98 on Tuesday. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $92.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91. The firm has a market capitalization of $4.09 billion, a PE ratio of 44.11, a P/E/G ratio of 1.82 and a beta of 0.52. The company’s 50 day simple moving average is $79.39 and its 200 day simple moving average is $67.33.

Haemonetics (NYSE:HAE) last announced its earnings results 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 analysts’ expectations of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The firm’s quarterly 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. As a group, equities research analysts forecast that Haemonetics Corporation will post 5.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on HAE. Weiss Ratings raised Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Robert W. Baird set a $96.00 price objective on Haemonetics in a research note on Friday, August 7th. Mizuho increased their target price on Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Barrington Research set a $95.00 target price on Haemonetics in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.89.

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.