Haemonetics Corp. (HAE) Receives New Coverage from Analysts at Off Wall Street
Equities researchers at Off Wall Street began coverage on shares of Haemonetics Corp. (NYSE:HAE) in a research report issued on Friday. The brokerage set a “sell” rating and a $24.00 price target on the stock. Off Wall Street’s price objective would suggest a potential downside of 33.55% from the stock’s current price.
Several other research firms have also weighed in on HAE. CJS Securities lowered Haemonetics Corp. from a “market outperform” rating to a “market perform” rating and set a $35.00 price objective for the company. in a research note on Tuesday, September 20th. Sidoti lowered Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research note on Monday, August 15th. Zacks Investment Research lowered Haemonetics Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Barrington Research lowered Haemonetics Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. Finally, Benchmark Co. raised their price objective on Haemonetics Corp. from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.00.
Shares of Haemonetics Corp. (NYSE:HAE) traded down 4.15% during midday trading on Friday, hitting $34.62. The stock had a trading volume of 262,634 shares. The firm’s market cap is $1.78 billion. The firm has a 50-day moving average price of $36.81 and a 200-day moving average price of $32.61. Haemonetics Corp. has a 1-year low of $25.98 and a 1-year high of $38.06.
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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. The company 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 was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. On average, equities analysts anticipate that Haemonetics Corp. will post $1.44 EPS for the current fiscal year.
In other news, CEO Christopher Simon acquired 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average cost of $35.00 per share, for a total transaction of $2,100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $152,402.18. Following the sale, the director now owns 22,088 shares of the company’s stock, valued at $776,172.32. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in shares of Haemonetics Corp. by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the company’s stock valued at $655,000 after buying an additional 100 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Haemonetics Corp. by 0.9% in the second quarter. Profund Advisors LLC now owns 13,954 shares of the company’s stock valued at $405,000 after buying an additional 124 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Haemonetics Corp. by 0.6% in the second quarter. JPMorgan Chase & Co. now owns 34,619 shares of the company’s stock valued at $1,003,000 after buying an additional 201 shares in the last quarter. PineBridge Investments L.P. raised 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 valued at $187,000 after buying an additional 261 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its stake in shares of Haemonetics Corp. by 3.8% in the second quarter. Fox Run Management L.L.C. now owns 8,200 shares of the company’s stock valued at $238,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 98.64% of the company’s stock.
Haemonetics Corp. Company Profile
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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