Haemonetics Corp. (HAE) Coverage Initiated by Analysts at Off Wall Street
Investment analysts at Off Wall Street assumed coverage on shares of Haemonetics Corp. (NYSE:HAE) in a research note issued on Friday. The firm set a “sell” rating and a $24.00 price target on the stock. Off Wall Street’s price target would indicate a potential downside of 33.55% from the stock’s previous close.
A number of other analysts have also recently commented on HAE. Zacks Investment Research raised shares of Haemonetics Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 4th. Benchmark Co. upped their target price on shares of Haemonetics Corp. from $28.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, August 2nd. Jefferies Group upped their target price on shares of Haemonetics Corp. from $32.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Barrington Research cut shares of Haemonetics Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Finally, Sidoti cut shares of Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a report on Monday, August 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Haemonetics Corp. presently has a consensus rating of “Hold” and a consensus price target of $33.00.
Haemonetics Corp. (NYSE:HAE) traded down 4.37% during mid-day trading on Friday, hitting $34.54. 317,690 shares of the stock were exchanged. Haemonetics Corp. has a 52 week low of $25.98 and a 52 week high of $38.06. The company has a 50-day moving average of $36.81 and a 200-day moving average of $32.61. The stock’s market capitalization is $1.77 billion.
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Haemonetics Corp. (NYSE:HAE) last released its quarterly earnings data on Monday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.03. Haemonetics Corp. had a negative net margin of 7.25% and a positive return on equity of 10.75%. The company had revenue of $210 million for the quarter, compared to analysts’ expectations of $205.41 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that Haemonetics Corp. will post $1.44 EPS for the current fiscal year.
In other news, CEO Christopher Simon acquired 60,000 shares of Haemonetics Corp. stock in a transaction dated Thursday, August 4th. The stock was purchased at an average cost of $35.00 per share, with a total value of $2,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald Merriman sold 4,337 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.14, for a total transaction of $152,402.18. Following the completion of the sale, the director now directly owns 22,088 shares of the company’s stock, valued at $776,172.32. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in HAE. BlackRock Inc. boosted its stake in shares of Haemonetics Corp. by 125.7% in the first quarter. BlackRock Inc. now owns 3,501 shares of the company’s stock worth $122,000 after buying an additional 1,950 shares during the period. Invictus RG boosted its stake in shares of Haemonetics Corp. by 20.1% in the first quarter. Invictus RG now owns 4,074 shares of the company’s stock worth $143,000 after buying an additional 681 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Haemonetics Corp. during the second quarter worth about $133,000. Amalgamated Bank purchased a new stake in shares of Haemonetics Corp. during the second quarter worth about $219,000. Finally, PineBridge Investments L.P. boosted its stake in shares of Haemonetics Corp. by 4.2% in the second quarter. PineBridge Investments L.P. now owns 6,473 shares of the company’s stock worth $187,000 after buying an additional 261 shares during the period. 98.64% 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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