T. Rowe Price Investment Management Inc. Cuts Stock Position 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. cut its holdings in Haemonetics Corporation (NYSE:HAE - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,195,569 shares of the medical instruments supplier's stock after selling 358,245 shares during the quarter. T. Rowe Price Investment Management Inc. owned 4.37% of Haemonetics worth $139,529,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake 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 worth $3,753,000 after buying an additional 4,217 shares during the period. Dimensional Fund Advisors LP boosted its stake in Haemonetics by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier's stock worth $77,470,000 after buying an additional 10,990 shares during the period. MetLife Investment Management LLC boosted its stake in Haemonetics by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 57,766 shares of the medical instruments supplier's stock worth $4,510,000 after buying an additional 3,241 shares during the period. Tower Research Capital LLC TRC boosted its stake in Haemonetics by 45.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,448 shares of the medical instruments supplier's stock worth $347,000 after buying an additional 1,399 shares during the period. Finally, TD Waterhouse Canada Inc. purchased a new position in Haemonetics during the fourth quarter worth $25,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Stock Down 0.7%

Shares of HAE opened at $54.0450 on Friday. The firm has a market capitalization of $2.60 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.00 and a beta of 0.40. Haemonetics Corporation has a 12-month low of $50.68 and a 12-month high of $94.99. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average price of $69.78 and a 200-day moving average price of $66.41.

Haemonetics (NYSE:HAE - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.09. The firm had revenue of $321.39 million during the quarter, compared to analyst estimates of $305.12 million. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The business's revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. Equities research analysts expect that Haemonetics Corporation will post 4.55 earnings per share for the current year.

Wall Street Analyst Weigh In

HAE has been the subject of several recent analyst reports. Raymond James Financial lowered shares of Haemonetics from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $105.00 to $78.00 in a research note on Monday, August 11th. Baird R W raised shares of Haemonetics to a "strong-buy" rating in a research note on Wednesday, June 25th. Wall Street Zen lowered shares of Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. 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 research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $62.00 price objective (down from $85.00) on shares of Haemonetics in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Haemonetics has an average rating of "Moderate Buy" and a consensus price target of $85.18.

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.

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