Haemonetics Corporation $HAE Position Increased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in Haemonetics Corporation by 22.8% in the first quarter, now owning 385,604 shares valued at approximately $24.51 million.
• Haemonetics reported quarterly earnings of $1.10 per share, exceeding analysts' expectations of $1.01, with revenue totaling $321.39 million, which is lower than last year.
• Research analysts have varied opinions on Haemonetics, with a consensus rating of "Moderate Buy" and an average target price of $85.18, amidst multiple price target adjustments following recent earnings.

The Manufacturers Life Insurance Company boosted its holdings in shares of Haemonetics Corporation (NYSE:HAE - Free Report) by 22.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 385,604 shares of the medical instruments supplier's stock after purchasing an additional 71,537 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.77% of Haemonetics worth $24,505,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HAE. University of Texas Texas AM Investment Management Co. bought a new position in Haemonetics during the 1st quarter worth approximately $65,000. KBC Group NV lifted its holdings in Haemonetics by 19.9% during the 1st quarter. KBC Group NV now owns 2,417 shares of the medical instruments supplier's stock worth $154,000 after buying an additional 401 shares during the last quarter. Vise Technologies Inc. lifted its holdings in Haemonetics by 8.7% during the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier's stock worth $221,000 after buying an additional 225 shares during the last quarter. CWC Advisors LLC. lifted its holdings in Haemonetics by 7.4% during the 4th quarter. CWC Advisors LLC. now owns 3,083 shares of the medical instruments supplier's stock worth $241,000 after buying an additional 212 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Haemonetics by 71.5% during the 1st quarter. AlphaQuest LLC now owns 3,140 shares of the medical instruments supplier's stock worth $200,000 after buying an additional 1,309 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

HAE has been the topic of a number of research analyst reports. Baird R W raised Haemonetics to a "strong-buy" rating in a report on Wednesday, June 25th. JMP Securities reaffirmed a "market outperform" rating and set a $100.00 target price on shares of Haemonetics in a report on Tuesday, May 20th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $62.00 target price (down from $85.00) on shares of Haemonetics in a research note on Friday, August 8th. Citigroup upgraded Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research note on Wednesday, July 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $68.00 target price (down from $84.00) on shares of Haemonetics in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $85.18.

Haemonetics Stock Performance

Shares of HAE traded down $0.16 during mid-day trading on Monday, reaching $54.22. 89,698 shares of the company's stock traded hands, compared to its average volume of 806,468. The business's 50-day moving average price is $66.04 and its 200-day moving average price is $65.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.72. The stock has a market capitalization of $2.61 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.39. Haemonetics Corporation has a 12 month low of $50.68 and a 12 month high of $94.99.

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, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $321.39 million during the quarter, compared to analysts' expectations 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 last year, the firm posted $1.02 earnings per share. 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.

About Haemonetics

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.