Riverwater Partners LLC Expands Ownership in Haemonetics Co. (NYSE:HAE)

2 min read | October 24, 2024 10:27 PM AEDT | By Team Kalkine Media

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Riverwater Partners LLC Expands Ownership in Haemonetics Co. (NYSE:HAE) — Image source: Shutterstock

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Highlights

Significant Increase in Holdings: Riverwater Partners LLC raised its stake in Haemonetics Co. by 185% in Q3 2024, acquiring over 29,000 additional shares.

Institutional Activity: Other institutional investors also adjusted their positions, with several firms increasing their stakes substantially during recent quarters.

Analyst Ratings and Stock Performance: Analysts have generally rated Haemonetics positively, with several firms issuing "buy" ratings and setting optimistic price objectives.

Riverwater Partners LLC reported a substantial increase in its holdings of Haemonetics Co. (NYSE:HAE), raising its stake by 185% during the third quarter of 2024. Following this transaction, the firm owned approximately 44,841 shares, constituting about 1.8% of its overall portfolio, making Haemonetics its tenth largest position.

Other institutional entities also adjusted their positions in Haemonetics recently. Capital Research Global Investors increased its holdings by 2.3%, now owning over 6.6 million shares. Vanguard Group Inc. raised its stake by 0.5%, while Dimensional Fund Advisors LP expanded its position by 6.3%. Thrivent Financial for Lutherans made a notable move, boosting its stake by 6,573.6%. Additionally, Allspring Global Investments Holdings LLC increased its holdings by 75.9%. Collectively, these institutional investors hold approximately 99.67% of Haemonetics' stock.

As of the latest trading session, Haemonetics stock experienced a decline of 1.6%, opening at $73.29. The company has a market capitalization of approximately $3.73 billion, with a price-to-earnings ratio of 32.00. The stock's 12-month trading range has varied from a low of $70.74 to a high of $97.97.

In its most recent earnings report, Haemonetics posted an earnings per share (EPS) of $1.02, slightly below analyst expectations. However, the company reported a year-over-year revenue increase of 8.0%, totaling $336.17 million. Analysts are forecasting an EPS of 4.57 for the current fiscal year.

Insider activity has also been noted, with a key insider recently selling a portion of their shares. Analyst ratings remain positive, with multiple firms issuing "buy" ratings and setting various price objectives, reflecting a generally favorable outlook on Haemonetics' performance in the market.

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