Louisiana State Employees Retirement System Purchases New Holdings in Haemonetics Corporation $HAE

Louisiana State Employees Retirement System purchased a new position in shares of Haemonetics Corporation (NYSE:HAE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 13,500 shares of the medical instruments supplier’s stock, valued at approximately $761,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC grew its stake in Haemonetics by 48.6% in the 4th quarter. AQR Capital Management LLC now owns 3,163,104 shares of the medical instruments supplier’s stock valued at $253,523,000 after purchasing an additional 1,034,226 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Haemonetics by 994.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock worth $110,615,000 after buying an additional 1,254,035 shares during the last quarter. North Peak Capital Management LLC grew its position in Haemonetics by 204.4% during the fourth quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock valued at $88,405,000 after buying an additional 740,626 shares during the period. Dimensional Fund Advisors LP grew its position in Haemonetics by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,099,519 shares of the medical instruments supplier’s stock valued at $53,587,000 after buying an additional 26,763 shares during the period. Finally, Millennium Management LLC increased its holdings in Haemonetics by 4,296.3% during the third quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier’s stock worth $37,685,000 after buying an additional 755,592 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings upgraded Haemonetics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Barrington Research dropped their price target on Haemonetics from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and set a $84.00 price target on shares of Haemonetics in a research note on Friday, June 26th. Citigroup upped their price target on shares of Haemonetics from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.33.

Haemonetics Price Performance

NYSE:HAE traded up $0.84 during mid-day trading on Tuesday, hitting $75.86. 8,275 shares of the stock traded hands, compared to its average volume of 875,895. Haemonetics Corporation has a 12-month low of $47.31 and a 12-month high of $87.32. The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. The company has a market cap of $3.45 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 1.51 and a beta of 0.52. The business’s 50-day moving average price is $67.13 and its 200 day moving average price is $66.41.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $346.35 million during the quarter, compared to analyst estimates of $336.83 million. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. On average, analysts expect that Haemonetics Corporation will post 5.22 EPS for the current fiscal 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.