AlphaCrest Capital Management LLC Takes $658,000 Position in Haemonetics Co. (NYSE:HAE)

Posted by Defense World Staff on Mar 8th, 2023

AlphaCrest Capital Management LLC bought a new stake in Haemonetics Co. (NYSE:HAE – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,883 shares of the medical instruments supplier’s stock, valued at approximately $658,000.

Several other institutional investors have also recently added to or reduced their stakes in HAE. Capital Research Global Investors raised its holdings in Haemonetics by 166.1% in the first quarter. Capital Research Global Investors now owns 5,452,006 shares of the medical instruments supplier’s stock valued at $344,676,000 after acquiring an additional 3,402,873 shares in the last quarter. Wellington Management Group LLP raised its holdings in Haemonetics by 21.5% in the first quarter. Wellington Management Group LLP now owns 6,165,363 shares of the medical instruments supplier’s stock valued at $389,776,000 after acquiring an additional 1,091,484 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Haemonetics in the second quarter valued at $26,652,000. Federated Hermes Inc. raised its holdings in Haemonetics by 224.8% in the first quarter. Federated Hermes Inc. now owns 462,586 shares of the medical instruments supplier’s stock valued at $29,245,000 after acquiring an additional 320,184 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Haemonetics by 1,520.7% in the second quarter. Millennium Management LLC now owns 338,926 shares of the medical instruments supplier’s stock valued at $22,091,000 after acquiring an additional 318,014 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on HAE. JMP Securities upped their price target on shares of Haemonetics from $90.00 to $105.00 and gave the company a “market outperform” rating in a report on Tuesday, November 8th. Raymond James increased their target price on shares of Haemonetics from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, November 8th. Barrington Research increased their target price on shares of Haemonetics from $94.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Morgan Stanley increased their target price on shares of Haemonetics from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Finally, Citigroup increased their target price on shares of Haemonetics from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 8th. Two 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.com, Haemonetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

Haemonetics Stock Up 0.5 %

Haemonetics stock opened at $78.03 on Wednesday. The company has a 50-day simple moving average of $81.92 and a 200-day simple moving average of $79.93. The firm has a market capitalization of $3.94 billion, a P/E ratio of 42.18, a P/E/G ratio of 2.65 and a beta of 0.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.99 and a current ratio of 3.11. Haemonetics Co. has a one year low of $48.67 and a one year high of $91.39.

Haemonetics (NYSE:HAE – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The medical instruments supplier reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $305.30 million during the quarter, compared to analyst estimates of $300.47 million. Haemonetics had a net margin of 8.48% and a return on equity of 19.84%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. As a group, equities analysts expect that Haemonetics Co. will post 2.94 earnings per share for the current year.

Insider Transactions at Haemonetics

In other news, EVP Josep Llorens sold 2,391 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $90.00, for a total transaction of $215,190.00. Following the completion of the transaction, the executive vice president now owns 17,234 shares in the company, valued at $1,551,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.65% of the company’s stock.

Haemonetics Profile

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Haemonetics Corp. is a global healthcare company, which engages in the development and distribution of hematology products and solutions. It operates through the following segments: Plasma, Blood Center, Hospital, and Corporate. The Plasma segment offers automated plasma collection and donor management software systems.