Haemonetics Corp. (HAE) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Haemonetics Corp. (NYSE:HAE) have been given an average rating of “Hold” by the twelve research firms that are presently covering the firm. Three analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $33.17.
Several equities analysts recently commented on HAE shares. Off Wall Street started coverage on shares of Haemonetics Corp. in a research report on Friday. They issued a “sell” rating and a $24.00 price objective for the company. Zacks Investment Research raised shares of Haemonetics Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, July 4th. CJS Securities lowered shares of 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 report on Tuesday, September 20th. Sidoti lowered shares of Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research report on Monday, August 15th. Finally, Jefferies Group increased their price objective on shares of Haemonetics Corp. from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd.
In other news, CEO Christopher Simon bought 60,000 shares of the business’s 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald Merriman sold 4,337 shares of Haemonetics Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $35.14, for a total transaction of $152,402.18. Following the transaction, 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. Insiders own 1.50% of the company’s stock.
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Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Haemonetics Corp. by 125.7% in the first quarter. BlackRock Inc. now owns 3,501 shares of the company’s stock valued at $122,000 after buying an additional 1,950 shares during the period. Tower Research Capital LLC TRC bought a new stake in Haemonetics Corp. during the second quarter worth about $133,000. Invictus RG boosted its stake in 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 in the last quarter. PineBridge Investments L.P. boosted its stake in 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 in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Haemonetics Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 7,081 shares of the company’s stock worth $205,000 after buying an additional 865 shares in the last quarter. 98.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Haemonetics Corp. (NYSE:HAE) traded up 0.49% during trading on Tuesday, hitting $34.64. 275,090 shares of the company were exchanged. The firm’s market capitalization is $1.78 billion. Haemonetics Corp. has a 12 month low of $25.98 and a 12 month high of $38.06. The firm’s 50-day moving average price is $36.71 and its 200 day moving average price is $32.58.
Haemonetics Corp. (NYSE:HAE) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The company earned $210 million during the quarter, compared to analysts’ expectations of $205.41 million. Haemonetics Corp. had a negative net margin of 7.25% and a positive return on equity of 10.75%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. On average, equities research analysts expect that Haemonetics Corp. will post $1.44 earnings per share for the current fiscal year.
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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