Joseph P. Lucia & Associates LLC Makes New Investment in Haemonetics Corporation $HAE

Joseph P. Lucia & Associates LLC acquired a new stake in Haemonetics Corporation (NYSE:HAE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,759 shares of the medical instruments supplier’s stock, valued at approximately $507,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Haemonetics by 12.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier’s stock valued at $108,000 after purchasing an additional 211 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Haemonetics by 9.0% during the 2nd quarter. Quantinno Capital Management LP now owns 3,492 shares of the medical instruments supplier’s stock worth $261,000 after purchasing an additional 289 shares during the period. UMB Bank n.a. raised its position in shares of Haemonetics by 110.9% during the fourth quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier’s stock valued at $47,000 after buying an additional 306 shares during the last quarter. Cardinal Capital Management lifted its stake in shares of Haemonetics by 1.5% in the fourth quarter. Cardinal Capital Management now owns 22,442 shares of the medical instruments supplier’s stock valued at $1,799,000 after buying an additional 321 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Haemonetics in the fourth quarter valued at about $26,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Trading Down 0.9%

HAE stock opened at $89.98 on Tuesday. Haemonetics Corporation has a 1-year low of $47.31 and a 1-year high of $92.25. 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 business’s 50 day moving average is $79.39 and its 200-day moving average is $67.33. The firm has a market cap of $4.09 billion, a P/E ratio of 44.11, a P/E/G ratio of 1.82 and a beta of 0.52.

Haemonetics (NYSE:HAE) last posted 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 business had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.Haemonetics’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. Equities analysts anticipate that Haemonetics Corporation will post 5.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on HAE. BTIG Research upped their price target on Haemonetics from $84.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted 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. Barrington Research set a $95.00 target price on Haemonetics in a research note on Friday, August 7th. Wall Street Zen raised Haemonetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Citigroup lifted their price target on shares of Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $90.89.

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.