MetLife Investment Management LLC Acquires 258,776 Shares of Haemonetics Corporation $HAE

Key Points

• MetLife Investment Management LLC significantly increased its stake in Haemonetics Corporation by 448.0%, acquiring an additional 258,776 shares, bringing its total ownership to approximately 0.63% worth $20.1 million.
• Haemonetics reported a quarterly EPS of $1.10, surpassing analysts' expectations, although revenue declined 4.4% year-over-year, totaling $321.39 million.
• Equities analysts have adjusted price targets for Haemonetics, with Mizuho lowering their target from $90 to $70, and Citigroup raising their rating to "buy" with a target of $90.

MetLife Investment Management LLC lifted its stake in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 448.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,542 shares of the medical instruments supplier's stock after purchasing an additional 258,776 shares during the period. MetLife Investment Management LLC owned approximately 0.63% of Haemonetics worth $20,116,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HAE. Citigroup Inc. lifted its position in shares of Haemonetics by 87.3% during the first quarter. Citigroup Inc. now owns 625,565 shares of the medical instruments supplier's stock worth $39,755,000 after purchasing an additional 291,574 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Haemonetics by 820.5% during the fourth quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock worth $24,748,000 after purchasing an additional 282,521 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Haemonetics by 434.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier's stock worth $24,522,000 after purchasing an additional 255,338 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of 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 worth $32,861,000 after purchasing an additional 242,956 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. lifted its position in shares of Haemonetics by 148.0% during the first quarter. Schwartz Investment Counsel Inc. now owns 374,500 shares of the medical instruments supplier's stock worth $23,799,000 after purchasing an additional 223,500 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Stock Up 4.3%

Shares of NYSE:HAE opened at $56.2770 on Monday. Haemonetics Corporation has a 52 week low of $50.68 and a 52 week high of $94.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.72. The company has a market capitalization of $2.71 billion, a PE ratio of 17.21, a PEG ratio of 1.04 and a beta of 0.40. The company has a 50 day moving average price of $69.50 and a two-hundred day moving average price of $66.31.

Haemonetics (NYSE:HAE - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $305.12 million. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The business'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. Analysts forecast that Haemonetics Corporation will post 4.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Mizuho reduced their target price on shares of Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Robert W. Baird began coverage on shares of Haemonetics in a research note on Thursday, June 26th. They set an "outperform" rating and a $87.00 price target for the company. Raymond James Financial downgraded shares of Haemonetics from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $105.00 to $78.00 in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Citigroup raised shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Haemonetics presently has an average rating of "Moderate Buy" and an average price target of $85.18.

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.

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