Nuveen LLC Buys New Position in Haemonetics Corporation $HAE

Key Points

• Nuveen LLC has acquired a new stake in Haemonetics Corporation, purchasing 162,706 shares for approximately $10.34 million, representing about 0.32% ownership of the company.
• Haemonetics reported earnings per share of $1.10 for the most recent quarter, surpassing analysts' estimates by $0.09, although revenue decreased by 4.4% compared to the previous year.
• Several analysts have downgraded their price targets for Haemonetics stock, with a current average target price of $85.18 and a consensus rating of "Moderate Buy".

Nuveen LLC acquired a new position in shares of Haemonetics Corporation (NYSE:HAE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 162,706 shares of the medical instruments supplier's stock, valued at approximately $10,340,000. Nuveen LLC owned about 0.32% of Haemonetics at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HAE. Citigroup Inc. raised 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 acquiring an additional 291,574 shares during the last quarter. Voya Investment Management LLC raised 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 acquiring an additional 282,521 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 during the period. Fort Washington Investment Advisors Inc. OH grew its stake 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 worth $32,861,000 after purchasing an additional 242,956 shares during the period. Finally, Schwartz Investment Counsel Inc. grew its stake 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 worth $23,799,000 after purchasing an additional 223,500 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HAE shares. Robert W. Baird started coverage on Haemonetics in a research note on Thursday, June 26th. They set an "outperform" rating and a $87.00 target price for the company. Raymond James Financial cut Haemonetics from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $105.00 to $78.00 in a research note on Monday, August 11th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $62.00 target price (down previously from $85.00) on shares of Haemonetics in a research note on Friday, August 8th. Wall Street Zen cut Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Mizuho decreased 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 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 company. According to data from MarketBeat.com, Haemonetics presently has a consensus rating of "Moderate Buy" and an average target price of $85.18.

Haemonetics Stock Down 1.1%

Haemonetics stock traded down $0.59 during mid-day trading on Thursday, reaching $54.44. The stock had a trading volume of 687,622 shares, compared to its average volume of 1,321,424. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.72. Haemonetics Corporation has a fifty-two week low of $50.68 and a fifty-two week high of $94.99. The stock's 50-day simple moving average is $68.33 and its 200-day simple moving average is $66.09. The firm has a market capitalization of $2.62 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.40.

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

Haemonetics 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.