Hood River Capital Management LLC Buys New Position in Haemonetics Co. (NYSE:HAE)

Hood River Capital Management LLC acquired a new stake in Haemonetics Co. (NYSE:HAE) during the first quarter, according to its most recent filing with the SEC. The firm acquired 25,000 shares of the medical instruments supplier’s stock, valued at approximately $2,134,000.

Other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Haemonetics by 17.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock worth $90,000 after acquiring an additional 156 shares during the period. LVZ Inc. increased its holdings in shares of Haemonetics by 9.4% in the 4th quarter. LVZ Inc. now owns 3,006 shares of the medical instruments supplier’s stock worth $257,000 after acquiring an additional 259 shares during the period. Keene & Associates Inc. boosted its position in Haemonetics by 3.1% during the 4th quarter. Keene & Associates Inc. now owns 8,780 shares of the medical instruments supplier’s stock worth $751,000 after acquiring an additional 268 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Haemonetics by 2.1% during the first quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the medical instruments supplier’s stock valued at $1,246,000 after acquiring an additional 300 shares during the period. Finally, State of Michigan Retirement System boosted its position in shares of 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 valued at $1,065,000 after purchasing an additional 300 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Price Performance

Shares of NYSE HAE traded up $0.46 during mid-day trading on Friday, hitting $91.06. 296,374 shares of the stock traded hands, compared to its average volume of 433,102. The firm has a 50 day simple moving average of $87.07 and a two-hundred day simple moving average of $83.95. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50. Haemonetics Co. has a twelve month low of $70.74 and a twelve month high of $97.97. The company has a market cap of $4.64 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.66 and a beta of 0.29.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $329.53 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities research analysts forecast that Haemonetics Co. will post 4.57 EPS for the current fiscal year.

Insider Activity at Haemonetics

In related news, EVP Anila Lingamneni sold 2,305 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $95.00, for a total value of $218,975.00. Following the completion of the sale, the executive vice president now owns 12,295 shares of the company’s stock, valued at $1,168,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Haemonetics news, EVP Michelle L. Basil sold 12,990 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $88.08, for a total transaction of $1,144,159.20. Following the sale, the executive vice president now directly owns 31,257 shares of the company’s stock, valued at $2,753,116.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Anila Lingamneni sold 2,305 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $95.00, for a total value of $218,975.00. Following the transaction, the executive vice president now owns 12,295 shares of the company’s stock, valued at $1,168,025. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,516 shares of company stock valued at $2,638,056. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HAE. Barrington Research lifted their target price on shares of Haemonetics from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. 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 report on Wednesday, June 12th. Finally, JMP Securities lifted their target price on shares of Haemonetics from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.50.

Haemonetics 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.