Bank of New York Mellon Corp Decreases Stake in Haemonetics Corporation $HAE

Bank of New York Mellon Corp lessened its holdings in shares of Haemonetics Corporation (NYSE:HAE) by 2.0% in the first quarter, Holdings Channel reports. The firm owned 298,992 shares of the medical instruments supplier’s stock after selling 6,223 shares during the period. Bank of New York Mellon Corp’s holdings in Haemonetics were worth $16,851,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in Haemonetics during the fourth quarter valued at approximately $26,000. Leonteq Securities AG acquired a new stake in shares of Haemonetics in the fourth quarter worth $30,000. EverSource Wealth Advisors LLC increased its position 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 worth $31,000 after acquiring an additional 396 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Haemonetics in the 4th quarter valued at $34,000. Finally, Bayforest Capital Ltd purchased a new position 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 Analyst Weigh In

A number of brokerages recently weighed in on HAE. Citigroup reaffirmed a “buy” rating on shares of Haemonetics in a research report on Wednesday. Weiss Ratings raised Haemonetics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $72.00 to $80.00 in a research report on Friday, May 22nd. Wall Street Zen raised Haemonetics from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Robert W. Baird set a $67.00 target price on Haemonetics in a research note 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.89.

Haemonetics Price Performance

Shares of HAE stock opened at $85.63 on Thursday. The company has a market capitalization of $3.89 billion, a PE ratio of 42.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.52. The firm has a fifty day simple moving average of $74.25 and a 200-day simple moving average of $66.05. The company has a current ratio of 2.95, a quick ratio of 1.87 and a debt-to-equity ratio of 1.53. Haemonetics Corporation has a twelve month low of $47.31 and a twelve month high of $87.32.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. The business had revenue of $346.35 million during the quarter, compared to analyst estimates of $336.83 million. During the same period last year, the business earned $1.24 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. Equities research 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.