Royal Bank of Canada Sells 149,728 Shares of Haemonetics Corporation $HAE

Royal Bank of Canada cut its position in Haemonetics Corporation (NYSE:HAE) by 14.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 857,965 shares of the medical instruments supplier’s stock after selling 149,728 shares during the period. Royal Bank of Canada’s holdings in Haemonetics were worth $48,354,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HAE. Kemnay Advisory Services Inc. acquired a new stake in shares of Haemonetics during the fourth quarter worth approximately $26,000. Leonteq Securities AG acquired a new position in shares of Haemonetics in the 4th quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Haemonetics by 2,640.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock worth $31,000 after acquiring an additional 396 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Haemonetics during the 4th quarter worth approximately $34,000. Finally, Bayforest Capital Ltd bought a new stake in Haemonetics during the 4th quarter worth approximately $40,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Down 0.0%

NYSE:HAE opened at $85.51 on Monday. The stock’s fifty day moving average price is $75.11 and its two-hundred day moving average price is $66.09. Haemonetics Corporation has a 52-week low of $47.31 and a 52-week high of $87.32. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.87 and a current ratio of 2.95. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 42.33, a P/E/G ratio of 1.73 and a beta of 0.52.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $346.35 million during the quarter, compared to analysts’ expectations of $336.83 million. Haemonetics had a return on equity of 27.30% and a net margin of 7.29%.The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. On average, analysts anticipate that Haemonetics Corporation will post 5.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HAE. Mizuho lifted their price objective on Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Barrington Research decreased their target price on Haemonetics from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen upgraded Haemonetics from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Citigroup restated a “buy” rating on shares of Haemonetics in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on Haemonetics from $74.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.89.

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.