What Investors Should Know About a $24 Million Exit From a Medical Device Stock Down 9% This Past Year

Key Points
Invenomic sold 498,317 shares of Haemonetics Corporation in the fourth quarter.
The quarter-end position value decreased by $24.29 million due to the sale of all the fund's shares.
The position previously accounted for 1.2% of fund AUM as of the prior quarter.
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Invenomic Capital Management fully exited its position in Haemonetics Corporation (NYSE:HAE), according to a February 17, 2026, SEC filing, selling 498,317 shares previously worth $24.29 million.
What happened
According to a February 17, 2026, SEC filing, Invenomic Capital Management sold its entire stake of 498,317 shares in Haemonetics Corporation. The net position change for the quarter was $24.29 million.
What else to know
- The fund’s exit from Haemonetics Corporation reduced the position from 1.2% of 13F AUM in the prior quarter to zero post-filing.
- Top holdings after the filing:
- NASDAQ: VTRS: $69.64 million (3.4% of AUM)
- NYSE: GPN: $61.73 million (3.0% of AUM)
- NASDAQ: XRAY: $58.66 million (2.8% of AUM)
- NASDAQ: AKAM: $58.59 million (2.8% of AUM)
- NYSE: EGO: $53.75 million (2.6% of AUM)
- As of Friday, shares of Haemonetics Corporation were priced at $58.58, down 9% over the past year and well underperforming the S&P 500’s roughly 16% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.32 billion |
| Net Income (TTM) | $175.44 million |
| Market Capitalization | $2.74 billion |
| Price (as of Friday) | $58.58 |
Company snapshot
- Haemonetics provides automated plasma collection devices, blood component collection systems, hemostasis analyzers, and integrated software solutions for blood management and transfusion.
- The firm generates revenue through the sale of medical devices, related disposables, and proprietary software platforms to healthcare providers and blood centers.
- It serves plasma centers, hospitals, and blood banks, targeting healthcare institutions that require advanced blood management and transfusion solutions.
Haemonetics Corporation is a leading provider of medical devices and software for blood and plasma management. The company's strategy centers on delivering integrated solutions that enhance efficiency and safety in blood collection and transfusion processes. Its diversified portfolio and focus on innovation position it as a key partner to healthcare institutions seeking advanced blood management technologies.
What this transaction means for investors
Sometimes a rough stretch can force difficult decisions, especially during stunning rallies, and that seems like it may have been the case here. Shares of Haemonetics skyrocketed nearly 70% last quarter alone after third-quarter earnings came in better than expected. After a spell of underperformance, it seems Invenomic may have chosen to cash in on gains, and that seems like a smart move given that the company has since unwound much of those gains and fallen 27% this year.
To be clear, Haemonetics doesn’t necessarily seem broken; it’s just facing some stress. Revenue declined about 3% last quarter to roughly $339 million, even as certain segments like plasma and blood management continued to grow. The story has become more complicated, with divestitures, product mix shifts, and uneven performance across business lines muddying what used to be a more straightforward growth narrative.
At the same time, profitability is actually improving. Gross margin expanded to nearly 60% and operating income climbed, showing the company is getting more efficient even as top-line momentum softens. That tension is also likely a key reason for the exit. This is no longer a pure growth play, but it is not quite a stable compounder either.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Akamai Technologies. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.