Haemonetics (NYSE:HAE) Reaches New 12-Month Low - Here's What Happened

Key Points

• Haemonetics Corporation reached a new 52-week low of $47.17 during trading, with the stock last at $48.97, amid mixed analyst ratings.
• Despite a recent earnings beat with $1.10 EPS compared to an estimate of $1.01, the company's revenue declined by 4.4% year-over-year, signaling concerns about its growth.
• Several hedge funds have increased their holdings in Haemonetics, suggesting ongoing institutional interest in the stock, which is heavily owned by institutional investors at 99.67%.

Haemonetics Corporation (NYSE:HAE - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $47.17 and last traded at $48.97, with a volume of 234 shares. The stock had previously closed at $48.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Baird R W upgraded Haemonetics to a "strong-buy" rating in a report on Wednesday, June 25th. Raymond James Financial lowered Haemonetics from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $105.00 to $78.00 in a research note on Monday, August 11th. Citigroup raised Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research note on Wednesday, July 9th. Mizuho lowered their price target on Haemonetics from $90.00 to $70.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Barrington Research reiterated an "outperform" rating and set a $86.00 price objective on shares of Haemonetics in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Haemonetics has a consensus rating of "Moderate Buy" and a consensus price target of $78.78.

Haemonetics Price Performance

The firm has a market cap of $2.36 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.90 and a beta of 0.37. The business has a 50-day moving average of $56.68 and a two-hundred day moving average of $63.78. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04.

Haemonetics (NYSE:HAE - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 EPS for the quarter, beating 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 analyst estimates of $305.12 million. During the same quarter in the prior year, the company earned $1.02 EPS. The firm'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 anticipate that Haemonetics Corporation will post 4.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds and other institutional investors have recently modified their holdings of HAE. River Road Asset Management LLC boosted its holdings in Haemonetics by 18.7% during the 2nd quarter. River Road Asset Management LLC now owns 1,655,676 shares of the medical instruments supplier's stock valued at $122,586,000 after acquiring an additional 260,624 shares during the period. Geode Capital Management LLC boosted its stake in Haemonetics by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,244,624 shares of the medical instruments supplier's stock valued at $92,873,000 after purchasing an additional 23,257 shares during the last quarter. Royce & Associates LP boosted its stake in Haemonetics by 0.7% during the 1st quarter. Royce & Associates LP now owns 1,161,296 shares of the medical instruments supplier's stock valued at $73,800,000 after purchasing an additional 8,028 shares during the last quarter. Boston Trust Walden Corp boosted its stake in shares of Haemonetics by 22.1% in the 1st quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier's stock worth $71,070,000 after buying an additional 202,609 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in 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 purchasing an additional 24,650 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

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.