Wed Sep 25 08:42:52 UTC 2024: ## New Jersey Pension Fund Cuts Haemonetics Stake, Institutional Investors Show Interest
**[City, State] -** The State of New Jersey Common Pension Fund D reduced its holdings in Haemonetics Co. (NYSE: HAE) by 44.2% in the second quarter, according to a recent SEC filing. The fund now owns 21,260 shares of the medical instruments supplier, valued at $1,759,000.
While the New Jersey fund decreased its stake, other institutional investors are showing interest in Haemonetics. TFO Wealth Partners LLC significantly increased its position by 29,450.0% during the fourth quarter, while Covestor Ltd raised its stake by 184.8% in the first quarter. Daiwa Securities Group Inc. and EntryPoint Capital LLC also purchased new positions in the company.
Haemonetics has been the subject of several research reports recently. CL King, BTIG Research, and Barrington Research have all issued “buy” ratings on the stock, while Citigroup has a “neutral” rating. Needham & Company LLC upgraded the stock from “hold” to “buy.” Overall, the stock has a “Moderate Buy” rating with an average price target of $106.14, according to MarketBeat.com.
Haemonetics reported earnings for the second quarter on August 8th, missing analysts’ expectations for earnings per share. However, revenue for the quarter was up 8.0% compared to the same period last year.
Recent insider trading activity shows Stewart W. Strong, an insider, sold 4,312 shares of the firm’s stock on July 26th, and EVP Anila Lingamneni sold 2,136 shares on July 11th.
Haemonetics Corporation specializes in providing medical products and solutions for plasma collection, donor management, and supporting software solutions, operating in the United States and internationally.
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