Charles Schwab Investment Management Inc. Buys 4,834 Shares of Haemonetics Corporation $HAE

Charles Schwab Investment Management Inc. lifted its stake in shares of Haemonetics Corporation (NYSE:HAE) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 556,027 shares of the medical instruments supplier’s stock after purchasing an additional 4,834 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.11% of Haemonetics worth $35,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cary Street Partners Financial LLC bought a new stake in shares of Haemonetics during the 1st quarter valued at approximately $1,082,000. XTX Topco Ltd bought a new stake in shares of Haemonetics during the 1st quarter valued at approximately $1,947,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Haemonetics during the 1st quarter valued at approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Haemonetics by 7.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,396 shares of the medical instruments supplier’s stock valued at $851,000 after purchasing an additional 936 shares during the last quarter. Finally, Heartland Advisors Inc. grew its holdings in shares of Haemonetics by 67.8% during the 1st quarter. Heartland Advisors Inc. now owns 155,898 shares of the medical instruments supplier’s stock valued at $9,907,000 after purchasing an additional 62,975 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Down 0.9%

Shares of NYSE HAE opened at $53.25 on Tuesday. The company has a market capitalization of $2.57 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.99 and a beta of 0.40. Haemonetics Corporation has a 52-week low of $50.68 and a 52-week high of $94.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.72. The company’s 50 day moving average price is $70.82 and its 200-day moving average price is $66.66.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The company had revenue of $321.39 million for the quarter, compared to the consensus estimate of $305.12 million. During the same quarter in the previous year, the company earned $1.02 EPS. Haemonetics’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts forecast that Haemonetics Corporation will post 4.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HAE. Mizuho cut their target price on shares of Haemonetics from $90.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Robert W. Baird began coverage on shares of Haemonetics in a research report on Thursday, June 26th. They set an “outperform” rating and a $87.00 target price on the stock. Citigroup upgraded shares of Haemonetics from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Wednesday, July 9th. JMP Securities reiterated a “market outperform” rating and set a $100.00 target price on shares of Haemonetics in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $62.00 target price (down from $85.00) on shares of Haemonetics in a research report on Friday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.18.

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.