Jupiter Topco LLC Invests $13.59 Million in Haemonetics Corporation $HAE

Jupiter Topco LLC bought a new position in Haemonetics Corporation (NYSE:HAE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 181,141 shares of the medical instruments supplier’s stock, valued at approximately $13,586,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HAE. Expect Equity LLC bought a new stake in Haemonetics during the second quarter worth approximately $3,077,000. Legal & General Group Plc bought a new position in shares of Haemonetics in the second quarter valued at $4,747,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Haemonetics during the 2nd quarter valued at $3,190,000. Cetera Trust Company N.A acquired a new stake in shares of Haemonetics during the 2nd quarter valued at $350,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Haemonetics during the 2nd quarter worth $224,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HAE has been the topic of a number of recent research reports. Citigroup lifted their target price on Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $105.00 target price on shares of Haemonetics in a report on Friday, August 7th. BTIG Research increased their price target on Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Weiss Ratings raised Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Mizuho boosted their price objective on Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.56.

Haemonetics Trading Down 1.1%

NYSE HAE opened at $103.83 on Friday. The firm’s 50 day moving average price is $84.89 and its two-hundred day moving average price is $69.96. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. Haemonetics Corporation has a twelve month low of $47.31 and a twelve month high of $109.57. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.08 and a beta of 0.52.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. Equities analysts anticipate that Haemonetics Corporation will post 5.29 EPS for the current year.

Haemonetics Company 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.