Haemonetics Corporation $HAE Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments reduced its Haemonetics stake by 5.3% in the first quarter, selling 49,503 shares and leaving it with 890,224 shares worth about $50.1 million.
• Haemonetics reported better-than-expected quarterly results, with EPS of $1.29 and revenue of $346.35 million, both ahead of analyst estimates. Revenue also rose 4.8% year over year.
• Analyst sentiment remains constructive overall, with multiple firms raising ratings or price targets and the stock carrying a Moderate Buy consensus target of $78.89.

Allspring Global Investments Holdings LLC trimmed its stake in Haemonetics Corporation (NYSE:HAE - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 890,224 shares of the medical instruments supplier's stock after selling 49,503 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.92% of Haemonetics worth $50,066,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. North Peak Capital Management LLC boosted its position in Haemonetics by 204.4% during the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier's stock worth $88,405,000 after acquiring an additional 740,626 shares during the period. Strs Ohio acquired a new position in shares of Haemonetics during the fourth quarter valued at $986,000. Horizon Investments LLC acquired a new position in shares of Haemonetics during the fourth quarter valued at $2,398,000. Peregrine Capital Management LLC bought a new stake in shares of Haemonetics during the fourth quarter valued at about $2,293,000. Finally, M&T Bank Corp raised its stake in shares of Haemonetics by 205.9% during the fourth quarter. M&T Bank Corp now owns 14,370 shares of the medical instruments supplier's stock valued at $1,050,000 after purchasing an additional 9,673 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Stock Down 0.7%

Haemonetics stock opened at $77.97 on Friday. Haemonetics Corporation has a twelve month low of $47.31 and a twelve month high of $87.32. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.87 and a current ratio of 2.95. The firm has a market cap of $3.54 billion, a PE ratio of 38.60, a P/E/G ratio of 1.57 and a beta of 0.52. The firm's 50 day moving average price is $70.49 and its two-hundred day moving average price is $66.25.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. The business had revenue of $346.35 million for the quarter, compared to analysts' expectations of $336.83 million. During the same period in the previous year, the company posted $1.24 EPS. Haemonetics's revenue was up 4.8% on a year-over-year basis. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. On average, research analysts predict that Haemonetics Corporation will post 5.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Haemonetics from $74.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, May 8th. Wall Street Zen raised Haemonetics from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Mizuho upped their target price on Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday. Weiss Ratings raised Haemonetics from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 25th. Finally, Bank of America raised Haemonetics from a "neutral" rating to a "buy" rating and raised their target price for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Haemonetics has a consensus rating of "Moderate Buy" and an average target price of $78.89.

About Haemonetics

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company's offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company's product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.

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