Principal Financial Group Inc. Boosts Stock Position in Haemonetics Corporation $HAE

Key Points

• Principal Financial Group increased its stake in Haemonetics by 25.4% in the first quarter, buying 41,677 additional shares and bringing its total holding to 205,456 shares worth about $11.58 million.
• Several other institutional investors also made moves in HAE, and hedge funds plus other institutions now own 99.67% of the company’s stock.
• Analyst sentiment is mixed but constructive: Haemonetics has a Moderate Buy consensus rating with an average price target of $78.89, while the stock recently traded at $78.56 after reporting earnings that slightly topped expectations.

Principal Financial Group Inc. lifted its stake in Haemonetics Corporation (NYSE:HAE - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 205,456 shares of the medical instruments supplier's stock after purchasing an additional 41,677 shares during the quarter. Principal Financial Group Inc. owned about 0.44% of Haemonetics worth $11,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HAE. Kemnay Advisory Services Inc. purchased a new stake in Haemonetics in the 4th quarter valued at $26,000. Leonteq Securities AG acquired a new stake in shares of Haemonetics in the 4th quarter worth $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of Haemonetics by 2,640.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier's stock worth $31,000 after acquiring an additional 396 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Haemonetics during the 4th quarter worth $34,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Haemonetics during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Wall Street Analyst Weigh In

HAE has been the subject of a number of analyst reports. Weiss Ratings raised shares of Haemonetics from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 25th. Robert W. Baird set a $67.00 target price on shares of Haemonetics in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Haemonetics from $74.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. Barrington Research dropped their price target on shares of Haemonetics from $94.00 to $89.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of Haemonetics from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $78.89.

Haemonetics Stock Performance

Shares of Haemonetics stock opened at $78.56 on Friday. The firm has a market cap of $3.57 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 1.56 and a beta of 0.52. The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. Haemonetics Corporation has a 52 week low of $47.31 and a 52 week high of $87.32. The business's fifty day simple moving average is $72.75 and its 200-day simple moving average is $66.17.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. The firm had revenue of $346.35 million during the quarter, compared to the consensus estimate of $336.83 million. Haemonetics had a return on equity of 27.30% and a net margin of 7.29%.The company's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. Equities analysts forecast that Haemonetics Corporation will post 5.21 earnings per share for the current year.

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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