PDT Partners Boosts Haemonetics Holdings by Over 440% in Q1

PDT Partners LLC significantly increased its stake in Haemonetics Corporation during the first quarter of 2023, acquiring an additional 44,933 shares and boosting its holdings by 441.9%. According to HoldingsChannel, this brings PDT Partners’ total ownership to 55,101 shares, valued at approximately $3.5 million at the end of the reporting period.

Other institutional investors have also made notable moves regarding Haemonetics shares. Citigroup Inc. raised its position by 87.3%, now owning 625,565 shares valued at $39.8 million after purchasing an additional 291,574 shares. Similarly, MetLife Investment Management LLC increased its holdings by 448.0%, bringing its total to 316,542 shares worth $20.1 million. Fort Washington Investment Advisors Inc. and Schwartz Investment Counsel Inc. also expanded their stakes by 88.6% and 148.0%, respectively.

In total, institutional investors and hedge funds now control 99.67% of Haemonetics’ stock, reflecting a strong confidence in the medical instruments supplier.

Analyst Ratings and Market Performance

Haemonetics has been the focus of various research reports recently. On August 7, 2023, Needham & Company LLC reaffirmed a “buy” rating but adjusted its price target to $68.00, down from a previous target of $84.00. JPMorgan Chase & Co. also lowered its target to $62.00 from $85.00, maintaining a “neutral” rating. Additionally, Barrington Research revised its price objective from $95.00 to $86.00 while keeping an “outperform” rating.

On the positive side, Baird R W upgraded Haemonetics to a “strong-buy” rating, and new coverage initiated by Robert W. Baird set an “outperform” rating with a price objective of $87.00. Currently, one analyst has rated the stock as a “Strong Buy,” while nine have issued a “Buy” rating, one has given a “Hold” rating, and one has issued a “Sell” rating. The stock has an average rating of “Moderate Buy” with a consensus target price of $85.18.

Market Activity and Financial Results

On August 8, 2023, shares of Haemonetics opened at $54.63. The company has a market capitalization of $2.63 billion, with a P/E ratio of 16.71 and a price-to-earnings-growth ratio of 1.01. The stock has fluctuated between a 12-month low of $50.68 and a high of $94.99.

Haemonetics reported its latest earnings on August 7, revealing earnings per share (EPS) of $1.10, surpassing the consensus estimate of $1.01 by $0.09. The company reported revenue of $321.39 million, exceeding analyst expectations of $305.12 million. While the net margin stood at 12.14% and return on equity at 26.64%, revenue decreased by 4.4% compared to the previous year.

Looking ahead, Haemonetics has set its fiscal year 2026 guidance at an EPS range of $4.70 to $5.00. Analysts predict an average EPS of $4.55 for the current fiscal year.

Haemonetics Corporation is a healthcare company that provides a range of medical products and solutions, including automated plasma collection systems and donor management software. The company operates both in the United States and internationally, aiming to enhance the efficiency of plasma collection and donor management.

For ongoing updates, readers can explore the latest holdings and insider trades for Haemonetics Corporation on HoldingsChannel.com.