Haemonetics (NYSE:HAE) Trading 11.8% Higher on Earnings Beat

Key Points

• Shares rallied 11.8% intraday after Haemonetics reported $1.29 EPS versus a $1.28 consensus and revenue up 4.8% year-over-year, and the company set FY 2027 guidance of 5.258–5.307 EPS.
• Institutional investors dramatically increased positions—AQR, Arrowstreet, Millennium and others added large stakes—leaving 99.67% of the float owned by institutions and hedge funds.
• Analyst sentiment is positive overall, with an average rating of "Moderate Buy" and a consensus price target of $82.78, while individual targets range roughly from $70 to $88.

Haemonetics Corporation (NYSE:HAE - Get Free Report) traded up 11.8% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $59.14 and last traded at $58.8670. 506,338 shares were traded during mid-day trading, a decline of 38% from the average session volume of 813,595 shares. The stock had previously closed at $52.67.

The medical instruments supplier reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Haemonetics had a net margin of 13.31% and a return on equity of 27.32%. The firm's revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Robert W. Baird set a $81.00 price target on Haemonetics in a report on Friday, February 6th. Wall Street Zen upgraded Haemonetics from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. Citigroup cut their price target on Haemonetics from $75.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, March 11th. Mizuho cut their price target on Haemonetics from $80.00 to $70.00 and set an "outperform" rating for the company in a report on Monday, April 13th. Finally, BTIG Research reiterated a "buy" rating and issued a $88.00 price target on shares of Haemonetics in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Haemonetics has an average rating of "Moderate Buy" and a consensus target price of $82.78.

Institutional Investors Weigh In On Haemonetics

Several hedge funds have recently modified their holdings of HAE. AQR Capital Management LLC increased its stake in Haemonetics by 372.8% during the third quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier's stock worth $102,814,000 after acquiring an additional 1,678,630 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Haemonetics by 994.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier's stock worth $110,615,000 after acquiring an additional 1,254,035 shares during the last quarter. Millennium Management LLC increased its stake in Haemonetics by 4,296.3% during the third quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier's stock worth $37,685,000 after acquiring an additional 755,592 shares during the last quarter. North Peak Capital Management LLC increased its stake in Haemonetics by 204.4% during the fourth quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier's stock worth $88,405,000 after acquiring an additional 740,626 shares during the last quarter. Finally, Invenomic Capital Management LP increased its stake in Haemonetics by 1,691.5% during the third quarter. Invenomic Capital Management LP now owns 498,317 shares of the medical instruments supplier's stock worth $24,288,000 after acquiring an additional 470,502 shares during the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Price Performance

The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.09 and a beta of 0.53. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 1.01. The company has a 50 day simple moving average of $59.68 and a 200 day simple moving average of $66.65.

About Haemonetics

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company's offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company's product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.

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