Royal Bank of Canada Has $48.35 Million Stake in Haemonetics Corporation $HAE

Key Points

• Royal Bank of Canada reduced its Haemonetics stake by 14.9% in the first quarter, selling 149,728 shares and retaining 857,965 shares worth approximately $48.35 million. Institutional investors collectively own 99.67% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $78.89; Bank of America and Wall Street Zen recently upgraded the stock to “Buy.”
• Haemonetics exceeded quarterly expectations with earnings of $1.29 per share versus a $1.28 estimate and revenue of $346.35 million, up 4.8% year over year.

Royal Bank of Canada reduced its holdings in Haemonetics Corporation (NYSE:HAE - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 857,965 shares of the medical instruments supplier's stock after selling 149,728 shares during the quarter. Royal Bank of Canada owned about 1.85% of Haemonetics worth $48,354,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HAE. Kemnay Advisory Services Inc. acquired a new position in shares of Haemonetics during the 4th quarter worth about $26,000. Leonteq Securities AG acquired a new stake in Haemonetics in the 4th quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its position in Haemonetics by 2,640.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier's stock worth $31,000 after buying an additional 396 shares during the period. Kestra Advisory Services LLC bought a new position in Haemonetics in the 4th quarter worth approximately $34,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Haemonetics during the fourth quarter worth approximately $40,000. 99.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Haemonetics from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Bank of America raised shares of Haemonetics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $72.00 to $80.00 in a research report on Friday, May 22nd. Mizuho upped their target price on shares of Haemonetics from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Citigroup reissued a "buy" rating on shares of Haemonetics in a report on Wednesday. Finally, Barrington Research decreased their price target on shares of Haemonetics from $94.00 to $89.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.89.

Haemonetics Stock Down 0.0%

Shares of HAE opened at $85.51 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average price of $75.11 and a two-hundred day moving average price of $66.09. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 42.33, a P/E/G ratio of 1.73 and a beta of 0.52. Haemonetics Corporation has a 12 month low of $47.31 and a 12 month high of $87.32.

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

Haemonetics Company Profile

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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