Haemonetics (NYSE:HAE) Shares Gap Up After Strong Earnings

Haemonetics Corporation (NYSE:HAE) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $50.72, but opened at $56.88. Haemonetics shares last traded at $62.09, with a volume of 885,479 shares.

The medical instruments supplier reported $1.27 EPS for the quarter, topping the consensus estimate of $1.12 by $0.15. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%.The company’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. Haemonetics has set its FY 2026 guidance at 4.800-5.00 EPS.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James Financial downgraded Haemonetics from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $105.00 to $78.00 in a research note on Monday, August 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $62.00 target price (down from $85.00) on shares of Haemonetics in a report on Friday, August 8th. Mizuho cut their target price on Haemonetics from $90.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Barrington Research reiterated an “outperform” rating and issued a $86.00 price objective on shares of Haemonetics in a research note on Tuesday, October 21st. Finally, Weiss Ratings cut Haemonetics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.89.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas acquired a new stake in Haemonetics during the 1st quarter valued at $467,000. Principal Financial Group Inc. increased its holdings in Haemonetics by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 158,894 shares of the medical instruments supplier’s stock valued at $10,098,000 after purchasing an additional 2,160 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Haemonetics by 16.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,746 shares of the medical instruments supplier’s stock valued at $3,543,000 after purchasing an additional 7,678 shares in the last quarter. M&T Bank Corp acquired a new stake in Haemonetics during the 1st quarter valued at $243,000. Finally, Cerity Partners LLC increased its holdings in Haemonetics by 32.5% during the 1st quarter. Cerity Partners LLC now owns 11,058 shares of the medical instruments supplier’s stock valued at $703,000 after purchasing an additional 2,713 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Price Performance

The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 0.91 and a beta of 0.43. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average of $50.99 and a two-hundred day moving average of $61.98.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.