September 20, 2023 – Nordea Investment Management AB has increased its stake in Haemonetics Co. (NYSE:HAE) during the second quarter, according to the company’s recent filing with the Securities & Exchange Commission. The investment management firm now owns 127,878 shares of Haemonetics’ stock, representing a 5.6% increase from the previous quarter. The additional shares were purchased for $10,922,000, adding to Nordea Investment Management AB’s ownership of the medical instruments supplier.
Haemonetics recently announced its quarterly earnings data on August 8th. The company reported earnings per share of $1.05 for the quarter, surpassing the consensus estimate of $0.73 by $0.32. During this period, Haemonetics generated a revenue of $311.30 million compared to analysts’ expectations of $292.74 million. With a return on equity of 22.49% and a net margin of 11.21%, Haemonetics demonstrated promising financial performance.
Furthermore, Haemonetics experienced a growth rate of 19.0% in revenue compared to the corresponding quarter last year when it earned $0.58 EPS.
A number of research firms have commented on HAE’s performance recently as well. Barrington Research raised their price objective from $111.00 to $114.00 and provided an “outperform” rating for the company in their research report issued on August 9th.
However, StockNews.com downgraded Haemonetics from a “strong-buy” rating to a “buy” rating in their report released on September 2nd.
In general, sell-side analysts anticipate that Haemonetics Co.’s current fiscal year will result in earnings per share amounting to 3.82.
Overall, these reports indicate positive investor sentiment towards Haemonetics Co., as evidenced by Nordea Investment Management AB’s increased stake and various research firms’ favorable ratings. The company’s strong financial performance in the recent quarter, along with its projected earnings for the current fiscal year, have garnered investor attention and optimism.
Please note that the information provided in this article is based on reports from September 20, 2023, and may be subject to change as new data emerges.
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Renewed Investor Interest and Insider Transactions Raise Questions for Haemonetics Co.
Haemonetics Co., a renowned medical instruments supplier, has recently seen some significant changes in the positions of its stock by various large investors. Byrne Asset Management LLC, for instance, has increased its stock ownership by 64% in the first quarter. Similarly, Meeder Asset Management Inc. witnessed a 65.2% increase in their shares of Haemonetics in the fourth quarter.
It is worth noting that State of Wyoming also entered the scene and acquired a new stake in Haemonetics during the same period. This move speaks volumes about the potential that institutional investors and hedge funds see in the company, as they collectively own an overwhelming 99.38% of Haemonetics’ stock.
Furthermore, Signaturefd LLC and Belpointe Asset Management LLC have also hiked their positions by 43.9% and 65.5%, respectively, during the first quarter. Such affirmations from prominent investment firms raise questions about what lies on the horizon for Haemonetics.
In other news revolving around Haemonetics Co., executive vice president Anila Lingamneni sold 2,305 shares of the company’s stock on September 11th at an average price of $90 per share. This transaction resulted in a total value of $207,450. Lingamneni now holds approximately 14,495 shares valued at around $1,304,550.
Similarly, EVP Josep Llorens sold 4,928 shares on July 18th at an average price of $90 per share as well. This brought his total proceeds from the sale to $443,520 while still leaving him with approximately 18,463 shares valued around $1,661,670.
These insider sales bear careful consideration as they offer insights into how executives perceive the future prospects of Haemonetics Co.
Haemonetics Co., listed on NYSE under ticker symbol HAE, opened at $91.34 on September 20, 2023. With a market capitalization of $4.63 billion and a price-to-earnings ratio of 34.47, the company presents itself as a significant player in the medical instruments sector. The stock has shown resilience by maintaining a stable performance over time.
Moreover, Haemonetics Co.’s beta stands at 0.41, suggesting that the stock is less volatile than the broader market. This stability combined with a PEG ratio of 2.36 indicates that Haemonetics could be an attractive long-term investment option for risk-averse investors.
However, it is crucial to analyze other factors as well. The company’s debt-to-equity ratio is at 0.87, indicating moderate financial leverage. Meanwhile, its current ratio of 3.38 and quick ratio of 2.16 reflect the company’s ability to handle short-term obligations effectively.
Investors should consider these factors when evaluating Haemonetics Co.’s investment potential before making any decisions.
Looking back at the past fifty-two weeks, Haemonetics Co.’s stock had a low point of $71.63 and reached a high of $95.26 during that period.
Overall, the recent changes in ownership and insider transactions regarding Haemonetics Co.’s stock raise both curiosity and intrigue about its future prospects as investors seek to navigate through an ever-changing marketplace.
(Note: The information provided in this article is based on publicly available data as of September 20, 2023)
