Quarry LP Takes Position in Haemonetics Co. (NYSE:HAE)

Quarry LP purchased a new stake in Haemonetics Co. (NYSE:HAE) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 471 shares of the medical instruments supplier’s stock, valued at approximately $39,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in shares of Haemonetics by 14.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 191,253 shares of the medical instruments supplier’s stock valued at $16,354,000 after purchasing an additional 24,394 shares during the last quarter. Quantbot Technologies LP grew its position in Haemonetics by 2,101.6% during the first quarter. Quantbot Technologies LP now owns 14,068 shares of the medical instruments supplier’s stock worth $1,201,000 after buying an additional 13,429 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Haemonetics during the first quarter worth about $38,706,000. Allspring Global Investments Holdings LLC grew its position in Haemonetics by 132.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 502,993 shares of the medical instruments supplier’s stock worth $42,930,000 after buying an additional 286,897 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Haemonetics by 38.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 562,454 shares of the medical instruments supplier’s stock worth $48,006,000 after buying an additional 156,665 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Stock Performance

NYSE:HAE opened at $77.89 on Friday. Haemonetics Co. has a 1 year low of $70.74 and a 1 year high of $97.97. The firm has a 50 day moving average of $77.72 and a 200-day moving average of $84.06. The company has a current ratio of 3.76, a quick ratio of 2.33 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $3.97 billion, a P/E ratio of 34.01, a price-to-earnings-growth ratio of 1.19 and a beta of 0.30.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The firm had revenue of $336.17 million during the quarter, compared to the consensus estimate of $335.08 million. During the same quarter last year, the firm posted $1.05 EPS. The business’s revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Haemonetics Co. will post 4.57 EPS for the current fiscal year.

Insider Activity

In other news, insider Stewart W. Strong sold 4,312 shares of Haemonetics stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $91.15, for a total value of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares in the company, valued at approximately $1,658,565.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Anila Lingamneni sold 2,136 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $90.00, for a total value of $192,240.00. Following the completion of the transaction, the executive vice president now owns 21,410 shares in the company, valued at $1,926,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HAE shares. Bank of America started coverage on Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 target price on the stock. BTIG Research started coverage on Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 target price on the stock. CL King initiated coverage on Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 target price on the stock. Barrington Research reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a report on Monday, September 23rd. Finally, Citigroup decreased their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.14.

Haemonetics Profile

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.