Sei Investments Co. Sells 310,596 Shares of Haemonetics Corporation $HAE

Sei Investments Co. lessened its stake in shares of Haemonetics Corporation (NYSE:HAE) by 61.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 191,760 shares of the medical instruments supplier’s stock after selling 310,596 shares during the quarter. Sei Investments Co.’s holdings in Haemonetics were worth $10,808,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HAE. State of Wyoming raised its holdings in Haemonetics by 90.4% in the 1st quarter. State of Wyoming now owns 5,234 shares of the medical instruments supplier’s stock valued at $295,000 after acquiring an additional 2,485 shares during the period. First Trust Advisors LP acquired a new stake in Haemonetics during the first quarter worth approximately $5,087,000. Westpac Banking Corp boosted its holdings in shares of Haemonetics by 35.5% during the first quarter. Westpac Banking Corp now owns 4,852 shares of the medical instruments supplier’s stock worth $273,000 after acquiring an additional 1,271 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Haemonetics by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock worth $74,731,000 after acquiring an additional 233,119 shares during the period. Finally, Heartland Advisors Inc. grew its position in shares of Haemonetics by 13.3% in the first quarter. Heartland Advisors Inc. now owns 85,000 shares of the medical instruments supplier’s stock valued at $4,791,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered 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. Barrington Research reduced their price target on Haemonetics from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen raised Haemonetics from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Bank of America upgraded Haemonetics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $72.00 to $80.00 in a research report on Friday, May 22nd. Finally, Citigroup reissued a “buy” rating on shares of Haemonetics in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Haemonetics has a consensus rating of “Moderate Buy” and a consensus price target of $78.89.

Haemonetics Trading Up 0.8%

Shares of NYSE:HAE opened at $85.51 on Friday. The business’s 50 day simple moving average is $75.11 and its 200 day simple moving average is $66.20. Haemonetics Corporation has a 1 year low of $47.31 and a 1 year high of $87.32. 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 company has a market capitalization of $3.89 billion, a P/E ratio of 42.33, a P/E/G ratio of 1.71 and a beta of 0.52.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm 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 company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. On average, research analysts anticipate that Haemonetics Corporation will post 5.21 EPS for the current fiscal year.

Haemonetics 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.