Haemonetics Corp. (HAE) Lowered to Market Perform at CJS Securities
Haemonetics Corp. (NYSE:HAE) was downgraded by investment analysts at CJS Securities from a “market outperform” rating to a “market perform” rating in a report released on Tuesday.
Several other research firms have also issued reports on HAE. Sidoti lowered Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a research report on Monday, August 15th. Zacks Investment Research lowered Haemonetics Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Barrington Research lowered Haemonetics Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd. Benchmark Co. boosted their target price on Haemonetics Corp. from $28.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, August 2nd. Finally, Jefferies Group boosted their target price on Haemonetics Corp. from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $34.40.
Shares of Haemonetics Corp. (NYSE:HAE) traded down 0.94% during trading on Tuesday, reaching $36.88. 271,008 shares of the company traded hands. Haemonetics Corp. has a 12 month low of $25.98 and a 12 month high of $38.06. The stock’s market cap is $1.89 billion. The stock’s 50 day moving average price is $36.31 and its 200-day moving average price is $32.21.
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Haemonetics Corp. (NYSE:HAE) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The firm had revenue of $210 million for the quarter, compared to the consensus estimate of $205.41 million. Haemonetics Corp. had a positive return on equity of 10.75% and a negative net margin of 7.25%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities research analysts expect that Haemonetics Corp. will post $1.44 EPS for the current fiscal year.
In other news, CEO Christopher Simon purchased 60,000 shares of Haemonetics Corp. stock in a transaction on Thursday, August 4th. The stock was purchased at an average price of $35.00 per share, with a total value of $2,100,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald Merriman sold 4,337 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $35.14, for a total value of $152,402.18. Following the transaction, the director now directly owns 22,088 shares of the company’s stock, valued at approximately $776,172.32. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in HAE. Rutabaga Capital Management LLC MA purchased a new position in Haemonetics Corp. during the second quarter worth $17,805,000. Norges Bank purchased a new position in Haemonetics Corp. during the fourth quarter worth $14,750,000. Fuller & Thaler Asset Management Inc. increased its position in Haemonetics Corp. by 17.1% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,134,641 shares of the company’s stock worth $61,883,000 after buying an additional 311,959 shares during the period. Heartland Advisors Inc. purchased a new position in Haemonetics Corp. during the second quarter worth $7,498,000. Finally, Dimensional Fund Advisors LP increased its position in Haemonetics Corp. by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,804,922 shares of the company’s stock worth $52,324,000 after buying an additional 228,856 shares during the period. 98.78% of the stock is owned by hedge funds and other institutional investors.
About Haemonetics Corp.
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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