Intech Investment Management LLC Makes New $1.13 Million Investment in Haemonetics Co. (NYSE:HAE)

Intech Investment Management LLC bought a new stake in shares of Haemonetics Co. (NYSE:HAE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,703 shares of the medical instruments supplier’s stock, valued at approximately $1,134,000.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its holdings in Haemonetics by 42.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,756 shares of the medical instruments supplier’s stock worth $294,000 after buying an additional 1,112 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Haemonetics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,941 shares of the medical instruments supplier’s stock valued at $491,000 after purchasing an additional 1,718 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Haemonetics during the second quarter valued at approximately $4,592,000. Dimensional Fund Advisors LP grew its stake in Haemonetics by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock worth $80,972,000 after purchasing an additional 57,665 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Haemonetics by 15.4% in the second quarter. Envestnet Asset Management Inc. now owns 41,712 shares of the medical instruments supplier’s stock worth $3,451,000 after purchasing an additional 5,556 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Insider Buying and Selling

In other news, EVP Anila Lingamneni sold 2,136 shares of the stock in a transaction 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 sale, the executive vice president now owns 21,410 shares of the company’s stock, valued at $1,926,900. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,658,565.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anila Lingamneni sold 2,136 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $90.00, for a total value of $192,240.00. Following the completion of the sale, the executive vice president now owns 21,410 shares in the company, valued at approximately $1,926,900. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HAE. Barrington Research restated an “outperform” rating and set a $108.00 target price on shares of Haemonetics in a report on Monday. Needham & Company LLC raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research note on Wednesday, June 12th. Bank of America began coverage on Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a report on Tuesday, August 13th. Finally, Citigroup dropped their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.14.

Haemonetics Stock Performance

Haemonetics stock opened at $75.50 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. Haemonetics Co. has a twelve month low of $70.74 and a twelve month high of $97.97. The company’s 50-day moving average price is $79.62 and its 200-day moving average price is $84.01. The company has a market cap of $3.85 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 1.32 and a beta of 0.30.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data 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). The company had revenue of $336.17 million for the quarter, compared to analysts’ expectations of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. On average, equities research analysts forecast that Haemonetics Co. will post 4.58 EPS for the current fiscal year.

Haemonetics Company 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.