Royal Bank of Canada Has $68.36 Million Stock Holdings in Haemonetics Corporation $HAE

Key Points

• Royal Bank of Canada increased its stake in Haemonetics Corporation by 2.3%, owning approximately 2.14% of the company, valued at about $68.4 million.
• Haemonetics reported $1.10 earnings per share for the latest quarter, exceeding estimates, despite a 4.4% decline in revenue compared to the previous year.
• Analysts have mixed ratings for the stock, with one strong buy, nine buy, one hold, and one sell, with an average price target of $85.18.

Royal Bank of Canada lifted its holdings in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,604 shares of the medical instruments supplier's stock after purchasing an additional 24,650 shares during the quarter. Royal Bank of Canada owned 2.14% of Haemonetics worth $68,355,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HAE. Stifel Financial Corp increased its position in shares of 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 acquiring an additional 1,006 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Haemonetics by 16.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 55,746 shares of the medical instruments supplier's stock worth $3,543,000 after purchasing an additional 7,678 shares during the period. GAMMA Investing LLC increased its holdings in Haemonetics by 11,225.0% during the 1st quarter. GAMMA Investing LLC now owns 17,667 shares of the medical instruments supplier's stock worth $11,230,000 after purchasing an additional 17,511 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Haemonetics by 7.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,396 shares of the medical instruments supplier's stock valued at $851,000 after purchasing an additional 936 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Haemonetics in the 4th quarter valued at about $519,000. Institutional investors own 99.67% of the company's stock.

Analyst Ratings Changes

HAE has been the topic of several recent research reports. Wall Street Zen lowered shares of Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $62.00 target price (down previously from $85.00) on shares of Haemonetics in a report on Friday, August 8th. JMP Securities reissued a "market outperform" rating and set a $100.00 price target on shares of Haemonetics in a research report on Tuesday, May 20th. Mizuho lowered their price target on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Raymond James Financial downgraded Haemonetics from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $105.00 to $78.00 in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.50.

Haemonetics Stock Performance

Shares of HAE stock traded down $0.63 during trading on Wednesday, reaching $53.61. 822,483 shares of the company's stock were exchanged, compared to its average volume of 901,808. Haemonetics Corporation has a twelve month low of $50.68 and a twelve month high of $94.99. The firm's fifty day moving average price is $64.73 and its 200-day moving average price is $65.55. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $2.58 billion, a PE ratio of 16.40, a PEG ratio of 1.00 and a beta of 0.39.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%.The business had revenue of $321.39 million during the quarter, compared to the consensus estimate of $305.12 million. During the same quarter last year, the firm posted $1.02 EPS. The company's quarterly revenue was down 4.4% on a year-over-year basis. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. As a group, sell-side analysts anticipate that Haemonetics Corporation will post 4.55 EPS for the current year.

About Haemonetics

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.