Principal Financial Group Inc. Boosts Stake in Haemonetics Corporation $HAE

Principal Financial Group Inc. boosted its stake in Haemonetics Corporation (NYSE:HAE) by 25.4% in the 1st quarter, Holdings Channel reports. The firm owned 205,456 shares of the medical instruments supplier’s stock after purchasing an additional 41,677 shares during the period. Principal Financial Group Inc.’s holdings in Haemonetics were worth $11,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HAE. Kemnay Advisory Services Inc. acquired a new position in Haemonetics during the fourth quarter worth $26,000. Leonteq Securities AG purchased a new position in shares of Haemonetics during the fourth quarter worth $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Haemonetics by 2,640.0% in the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 396 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Haemonetics in the fourth quarter valued at $34,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Haemonetics in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HAE shares. JPMorgan Chase & Co. decreased their target price on Haemonetics from $74.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Citigroup reaffirmed a “neutral” rating on shares of Haemonetics in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. BTIG Research reissued a “buy” rating and set a $84.00 price target on shares of Haemonetics in a research report on Friday, June 26th. Finally, Barrington Research lowered their price objective on shares of Haemonetics from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. One investment 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.89.

Haemonetics Price Performance

HAE stock opened at $78.56 on Friday. The business’s 50-day moving average is $72.75 and its two-hundred day moving average is $66.17. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.95 and a quick ratio of 1.87. The firm has a market capitalization of $3.57 billion, a P/E ratio of 38.89, a P/E/G ratio of 1.56 and a beta of 0.52. Haemonetics Corporation has a 1 year low of $47.31 and a 1 year high of $87.32.

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

Haemonetics Company Profile

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.