Harbor Capital Advisors Inc. Lowers Stake in Haemonetics Corporation $HAE

Key Points

• Harbor Capital Advisors Inc. sold 5,899 shares of Haemonetics Corporation, reducing its stake by 17.1% to 28,633 shares, valued at approximately $2.14 million.
• Haemonetics reported earnings of $1.10 per share, surpassing analyst expectations of $1.01, despite a 4.4% year-over-year revenue decline with total revenue of $321.39 million.
• Haemonetics has a current market capitalization of $2.40 billion and is seeing varied analyst ratings, with a consensus rating of "Moderate Buy" and an average target price of $78.78.

Harbor Capital Advisors Inc. reduced its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 17.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,633 shares of the medical instruments supplier's stock after selling 5,899 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.06% of Haemonetics worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. lifted its position in Haemonetics by 87.3% during the first quarter. Citigroup Inc. now owns 625,565 shares of the medical instruments supplier's stock valued at $39,755,000 after purchasing an additional 291,574 shares in the last quarter. MetLife Investment Management LLC lifted its position in Haemonetics by 448.0% during the first quarter. MetLife Investment Management LLC now owns 316,542 shares of the medical instruments supplier's stock valued at $20,116,000 after purchasing an additional 258,776 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Haemonetics by 88.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 517,086 shares of the medical instruments supplier's stock valued at $32,861,000 after purchasing an additional 242,956 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its position in Haemonetics by 148.0% during the first quarter. Schwartz Investment Counsel Inc. now owns 374,500 shares of the medical instruments supplier's stock valued at $23,799,000 after purchasing an additional 223,500 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in Haemonetics by 22.1% during the first quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier's stock valued at $71,070,000 after purchasing an additional 202,609 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Trading Down 1.2%

Shares of NYSE HAE traded down $0.61 during trading hours on Friday, reaching $50.54. The stock had a trading volume of 2,876,682 shares, compared to its average volume of 947,965. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 0.93 and a beta of 0.39. The business's fifty day moving average price is $61.19 and its two-hundred day moving average price is $64.86. Haemonetics Corporation has a 52-week low of $49.43 and a 52-week high of $94.99.

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 analysts' consensus estimates of $1.01 by $0.09. The firm had revenue of $321.39 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $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 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on HAE. Raymond James Financial downgraded Haemonetics from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $105.00 to $78.00 in a research report on Monday, August 11th. Citigroup upgraded Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Wednesday, July 9th. Robert W. Baird initiated coverage on Haemonetics in a research report on Thursday, June 26th. They issued an "outperform" rating and a $87.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $68.00 price objective (down from $84.00) on shares of Haemonetics in a research report on Thursday, August 7th. Finally, Barrington Research lowered their price objective on Haemonetics from $95.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Haemonetics presently has a consensus rating of "Moderate Buy" and an average price target of $78.78.

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.