TD Asset Management Inc Reduces Stock Holdings in Haemonetics Corporation $HAE

Key Points

• TD Asset Management Inc has reduced its holdings in Haemonetics Corporation (NYSE:HAE) by 31.9% during the second quarter, now owning 20,030 shares worth approximately $1.49 million.
• Several large investors have made significant changes to their positions in Haemonetics, with AQR Capital Management increasing its stake by 591.6% to 174,565 shares valued at around $10.93 million.
• Haemonetics recently reported quarterly earnings of $1.10 per share, exceeding estimates, although revenue decreased by 4.4% year-over-year to $321.39 million.

TD Asset Management Inc lowered its position in Haemonetics Corporation (NYSE:HAE - Free Report) by 31.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,030 shares of the medical instruments supplier's stock after selling 9,388 shares during the quarter. TD Asset Management Inc's holdings in Haemonetics were worth $1,494,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Haemonetics during the first quarter valued at $468,000. AQR Capital Management LLC boosted its stake in shares of Haemonetics by 591.6% during the first quarter. AQR Capital Management LLC now owns 174,565 shares of the medical instruments supplier's stock valued at $10,931,000 after acquiring an additional 149,325 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Haemonetics by 16.0% during the first quarter. Envestnet Asset Management Inc. now owns 55,746 shares of the medical instruments supplier's stock valued at $3,543,000 after acquiring an additional 7,678 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Haemonetics by 2.3% during the first quarter. Royal Bank of Canada now owns 1,075,604 shares of the medical instruments supplier's stock valued at $68,355,000 after acquiring an additional 24,650 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in Haemonetics in the 1st quarter worth about $6,783,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Stock Performance

Shares of NYSE:HAE opened at $51.26 on Thursday. 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 one year low of $47.31 and a one year high of $94.99. The business's 50-day simple moving average is $51.77 and its 200 day simple moving average is $62.47. The company has a market cap of $2.47 billion, a P/E ratio of 15.67, a PEG ratio of 0.94 and a beta of 0.37.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%.The company had revenue of $321.39 million for the quarter, compared to the consensus estimate of $305.12 million. During the same period in the previous year, the business earned $1.02 EPS. Haemonetics'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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HAE shares. Barrington Research reissued an "outperform" rating and issued a $86.00 price target on shares of Haemonetics in a research note on Tuesday. Mizuho decreased their price target on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Citigroup decreased their price target on Haemonetics from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. Raymond James Financial lowered Haemonetics from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $105.00 to $78.00 in a research note on Monday, August 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $68.00 price objective (down from $84.00) on shares of Haemonetics in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $75.89.

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.

Want to see what other hedge funds are holding HAE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Haemonetics Corporation (NYSE:HAE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.