Renaissance Technologies LLC Invests $4.59 Million in Haemonetics Co. (NYSE:HAE)

Renaissance Technologies LLC purchased a new stake in Haemonetics Co. (NYSE:HAE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 55,500 shares of the medical instruments supplier’s stock, valued at approximately $4,592,000.

Other large investors have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC grew its position in Haemonetics by 29,450.0% during the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock worth $51,000 after acquiring an additional 589 shares during the last quarter. Covestor Ltd raised its holdings in shares of Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 438 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Haemonetics during the 2nd quarter worth about $82,000. EntryPoint Capital LLC bought a new stake in Haemonetics during the 1st quarter worth about $86,000. Finally, Headlands Technologies LLC acquired a new stake in Haemonetics in the 1st quarter valued at about $114,000. 99.67% of the stock is owned by institutional investors.

Insider Activity

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

Haemonetics Stock Performance

Shares of Haemonetics stock opened at $79.86 on Friday. Haemonetics Co. has a 12 month low of $70.74 and a 12 month high of $97.97. 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 company has a market capitalization of $4.07 billion, a PE ratio of 34.87, a PEG ratio of 1.19 and a beta of 0.30. The stock’s fifty day simple moving average is $79.11 and its 200 day simple moving average is $83.89.

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 the consensus estimate of $1.03 by ($0.01). The business had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. Haemonetics’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 earnings per share. On average, research analysts predict that Haemonetics Co. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

HAE has been the subject of a number of research reports. BTIG Research began coverage on shares of Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target for the company. Needham & Company LLC upgraded 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. CL King initiated coverage on shares of Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price target for the company. Bank of America initiated coverage on shares of Haemonetics in a research note on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target for the company. Finally, Barrington Research reissued an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a research note on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average price target of $106.14.

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.