T. Rowe Price Investment Management Inc. Lowers Stock Holdings in Haemonetics Corporation $HAE

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Haemonetics Corporation by 14.0%, owning 2,195,569 shares valued at approximately $139.5 million after the sale.
• Haemonetics reported better-than-expected earnings for the last quarter, achieving $1.10 EPS which surpassed analysts' estimates by $0.09, despite a 4.4% year-over-year revenue decline.
• Analysts have varied assessments of Haemonetics, with ratings ranging from "Strong Buy" to "Sell," and an average price target of $85.18 for the stock.

T. Rowe Price Investment Management Inc. lowered its stake in Haemonetics Corporation (NYSE:HAE - Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,195,569 shares of the medical instruments supplier's stock after selling 358,245 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 4.37% of Haemonetics worth $139,529,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Voya Investment Management LLC lifted its position in shares of Haemonetics by 820.5% during the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock valued at $24,748,000 after buying an additional 282,521 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Haemonetics by 9.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 48,068 shares of the medical instruments supplier's stock valued at $3,753,000 after purchasing an additional 4,217 shares during the period. Stifel Financial Corp grew its stake in Haemonetics by 7.3% in the fourth quarter. Stifel Financial Corp now owns 14,776 shares of the medical instruments supplier's stock worth $1,154,000 after purchasing an additional 1,006 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Haemonetics by 434.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier's stock worth $24,522,000 after acquiring an additional 255,338 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Haemonetics by 11,225.0% in the 1st quarter. GAMMA Investing LLC now owns 17,667 shares of the medical instruments supplier's stock worth $11,230,000 after purchasing an additional 17,511 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Stock Up 0.1%

NYSE:HAE traded up $0.04 during trading hours on Wednesday, hitting $55.27. 86,783 shares of the company traded hands, compared to its average volume of 809,009. The company has a market cap of $2.66 billion, a PE ratio of 16.87, a PEG ratio of 1.02 and a beta of 0.40. Haemonetics Corporation has a one year low of $50.68 and a one year high of $94.99. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The firm's 50-day simple moving average is $68.94 and its 200-day simple moving average is $66.20.

Haemonetics (NYSE:HAE - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.09. The business 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%.The company's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. Equities analysts predict that Haemonetics Corporation will post 4.55 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on HAE. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $62.00 target price (down previously from $85.00) on shares of Haemonetics in a research report on Friday, August 8th. Needham & Company LLC reiterated a "buy" rating and issued a $68.00 price objective (down previously from $84.00) on shares of Haemonetics in a research note on Thursday, August 7th. Citigroup raised shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Wednesday, July 9th. Wall Street Zen cut shares of Haemonetics from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Barrington Research lowered their target price on shares of Haemonetics from $95.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.18.

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.