Evolve Private Wealth LLC Makes New Investment in Haemonetics Corporation $HAE

Evolve Private Wealth LLC purchased a new stake in shares of Haemonetics Corporation (NYSE:HAE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,739 shares of the medical instruments supplier’s stock, valued at approximately $355,000.

Other large investors have also recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new position in shares of Haemonetics during the second quarter valued at approximately $24,906,000. EP Wealth Advisors LLC bought a new position in Haemonetics during the second quarter valued at approximately $542,000. Ieq Capital LLC purchased a new stake in Haemonetics in the second quarter worth approximately $1,297,000. Heartland Advisors Inc. purchased a new stake in Haemonetics in the second quarter worth approximately $15,000,000. Finally, Allworth Financial LP bought a new stake in Haemonetics in the 2nd quarter worth approximately $59,000. 99.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barrington Research boosted 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, August 19th. Robert W. Baird raised their price target on Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, August 21st. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $72.00 to $80.00 in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their price objective on Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Citigroup increased their target price on Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.56.

Haemonetics Stock Down 0.0%

Shares of HAE stock opened at $108.35 on Wednesday. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $109.57. The stock has a market cap of $4.93 billion, a P/E ratio of 53.11, a P/E/G ratio of 2.17 and a beta of 0.52. 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 company has a 50 day simple moving average of $83.00 and a two-hundred day simple moving average of $69.11.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. The business 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 company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. On average, research analysts expect that Haemonetics Corporation will post 5.28 earnings per share for the current year.

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.