Northern Trust Corp Cuts Stock Holdings in Haemonetics Corporation $HAE

Key Points

• Northern Trust Corp reduced its holdings in Haemonetics Corporation by 4.0%, now owning approximately 651,418 shares valued at $41.4 million as of its latest SEC filing.
• Several institutional investors, including Stifel Financial Corp and The Manufacturers Life Insurance Company, significantly increased their stakes in Haemonetics, indicating strong interest from large financial entities.
• Wall Street analysts have adjusted their ratings and price targets for Haemonetics, with JPMorgan Chase setting a price objective of $62.00, down from $85.00, reflecting a cautious outlook on the company's stock performance.

Northern Trust Corp lessened its holdings in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 651,418 shares of the medical instruments supplier's stock after selling 26,843 shares during the period. Northern Trust Corp owned approximately 1.30% of Haemonetics worth $41,398,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Haemonetics during the first quarter valued at $65,000. KBC Group NV grew its stake in Haemonetics by 19.9% during the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock valued at $154,000 after purchasing an additional 401 shares in the last quarter. Vise Technologies Inc. grew its stake in Haemonetics by 8.7% during the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock valued at $221,000 after purchasing an additional 225 shares in the last quarter. CWC Advisors LLC. grew its position in shares of Haemonetics by 7.4% in the 4th quarter. CWC Advisors LLC. now owns 3,083 shares of the medical instruments supplier's stock worth $241,000 after acquiring an additional 212 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Haemonetics in the 1st quarter worth approximately $243,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Wall Street Analyst Weigh In

HAE has been the topic of several recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $100.00 target price on shares of Haemonetics in a research note on Tuesday, May 20th. Wall Street Zen downgraded Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Baird R W raised Haemonetics to a "strong-buy" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $62.00 target price (down from $85.00) on shares of Haemonetics in a report on Friday, August 8th. Finally, Mizuho lowered their target price on Haemonetics from $90.00 to $70.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.18.

Haemonetics Price Performance

NYSE HAE traded down $0.71 on Tuesday, hitting $53.83. 275,199 shares of the company's stock were exchanged, compared to its average volume of 808,330. The stock has a 50-day moving average of $67.64 and a 200-day moving average of $66.04. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.01 and a beta of 0.39. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. Haemonetics Corporation has a 52 week low of $50.68 and a 52 week high of $94.99.

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