Invenomic Capital Management LP Buys New Shares in Haemonetics Corporation $HAE

Key Points

• Invenomic Capital Management LP has acquired 106,730 shares of Haemonetics Corporation, valued at approximately $6.78 million, representing about 0.21% of the company’s stock.
• Haemonetics recently reported a Q1 EPS of $1.10, surpassing estimates, despite a 4.4% year-over-year decline in revenue.
• Institutional investors hold 99.67% of Haemonetics' stock, with several firms increasing their stakes in the company during the first quarter.

Invenomic Capital Management LP purchased a new stake in Haemonetics Corporation (NYSE:HAE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 106,730 shares of the medical instruments supplier's stock, valued at approximately $6,783,000. Invenomic Capital Management LP owned approximately 0.21% of Haemonetics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Stifel Financial Corp raised its stake in Haemonetics by 7.3% during the fourth quarter. Stifel Financial Corp now owns 14,776 shares of the medical instruments supplier's stock worth $1,154,000 after purchasing an additional 1,006 shares during the period. Northern Trust Corp grew its holdings in Haemonetics by 16.1% during the 4th quarter. Northern Trust Corp now owns 678,261 shares of the medical instruments supplier's stock worth $52,959,000 after acquiring an additional 93,848 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Haemonetics by 95.9% during the 4th quarter. BNP Paribas Financial Markets now owns 33,209 shares of the medical instruments supplier's stock worth $2,593,000 after acquiring an additional 16,260 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Haemonetics in the 4th quarter worth about $3,845,000. Finally, Captrust Financial Advisors lifted its position in shares of Haemonetics by 14.7% in the 4th quarter. Captrust Financial Advisors now owns 4,872 shares of the medical instruments supplier's stock worth $380,000 after buying an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Haemonetics Price Performance

Shares of HAE traded down $0.89 during trading hours on Wednesday, hitting $53.35. The stock had a trading volume of 195,273 shares, compared to its average volume of 806,046. Haemonetics Corporation has a 52 week low of $50.68 and a 52 week high of $94.99. The company's fifty day moving average is $65.18 and its two-hundred day moving average is $65.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.04. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.00 and a beta of 0.39.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.09. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The firm had revenue of $321.39 million for the quarter, compared to analyst estimates of $305.12 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The company's revenue was down 4.4% on a year-over-year basis. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. On average, analysts anticipate that Haemonetics Corporation will post 4.55 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and set a $68.00 price target (down from $84.00) on shares of Haemonetics in a research report on Thursday, August 7th. Citigroup raised shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Wednesday, July 9th. JMP Securities reaffirmed a "market outperform" rating and set a $100.00 price objective on shares of Haemonetics in a research report on Tuesday, May 20th. Baird R W raised shares of Haemonetics to a "strong-buy" rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen cut shares of Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.50.

Haemonetics Company 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.