Point72 Hong Kong Ltd Purchases Shares of 11,592 Haemonetics Co. (NYSE:HAE)

Point72 Hong Kong Ltd purchased a new stake in Haemonetics Co. (NYSE:HAE) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 11,592 shares of the medical instruments supplier’s stock, valued at approximately $959,000.

Several other institutional investors also recently bought and sold shares of HAE. Commonwealth Equity Services LLC boosted its position in Haemonetics by 3.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock worth $304,000 after purchasing an additional 117 shares during the period. QRG Capital Management Inc. boosted its position in Haemonetics by 6.9% during the 2nd quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock worth $333,000 after purchasing an additional 260 shares during the period. Arizona State Retirement System boosted its position in Haemonetics by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier’s stock worth $1,176,000 after purchasing an additional 272 shares during the period. State of Michigan Retirement System boosted its position in Haemonetics by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 12,474 shares of the medical instruments supplier’s stock worth $1,065,000 after purchasing an additional 300 shares during the period. Finally, Qtron Investments LLC boosted its position in Haemonetics by 5.7% during the 4th quarter. Qtron Investments LLC now owns 6,310 shares of the medical instruments supplier’s stock worth $540,000 after purchasing an additional 343 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Stewart W. Strong sold 4,312 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the sale, the insider now owns 18,196 shares in the company, valued at $1,658,565.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Stewart W. Strong sold 4,312 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the sale, the insider now owns 18,196 shares in the company, valued at $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 dated Thursday, July 11th. The stock was sold at an average price of $90.00, for a total transaction of $192,240.00. Following 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 company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th. BTIG Research assumed coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. CL King assumed coverage on shares of Haemonetics in a research report on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective for the company. Needham & Company LLC raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Wednesday, June 12th. Finally, Barrington Research reissued an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a research report on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.14.

Haemonetics Stock Performance

Shares of HAE stock opened at $75.08 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. Haemonetics Co. has a one year low of $70.74 and a one year high of $97.97. The company’s 50-day simple moving average is $79.62 and its 200-day simple moving average is $84.01. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.19 and a beta of 0.30.

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

About Haemonetics

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.