Haemonetics Corporation (HAE) Upgraded to “Outperform” by Barrington Research
Haemonetics Corporation (NYSE:HAE) was upgraded by equities researchers at Barrington Research from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, The Fly reports.
Several other analysts have also recently issued reports on the company. BidaskClub cut Haemonetics Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Zacks Investment Research cut Haemonetics Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. TheStreet raised Haemonetics Corporation from a “c” rating to a “b-” rating in a report on Thursday, April 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Haemonetics Corporation in a report on Monday, May 8th. Finally, JMP Securities upgraded Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.71.
Haemonetics Corporation (NYSE HAE) opened at 42.39 on Tuesday. The company’s market capitalization is $2.22 billion. Haemonetics Corporation has a 12 month low of $32.76 and a 12 month high of $43.62. The firm’s 50-day moving average is $39.97 and its 200-day moving average is $40.06.
Haemonetics Corporation (NYSE:HAE) last issued its quarterly earnings data on Monday, August 7th. The medical instruments supplier reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business had revenue of $211 million for the quarter, compared to analysts’ expectations of $211.29 million. Haemonetics Corporation had a positive return on equity of 10.66% and a negative net margin of 2.96%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Equities analysts anticipate that Haemonetics Corporation will post $1.60 EPS for the current fiscal year.
In related news, Director Ronald Merriman sold 17,471 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $40.33, for a total transaction of $704,605.43. Following the sale, the director now owns 24,925 shares in the company, valued at approximately $1,005,225.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Haemonetics Corporation by 48,854.9% in the first quarter. BlackRock Inc. now owns 6,289,728 shares of the medical instruments supplier’s stock valued at $255,175,000 after buying an additional 6,276,880 shares during the period. Vanguard Group Inc. increased its position in shares of Haemonetics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 4,694,325 shares of the medical instruments supplier’s stock valued at $190,449,000 after buying an additional 332,087 shares during the period. Wellington Management Group LLP increased its position in shares of Haemonetics Corporation by 22.6% in the first quarter. Wellington Management Group LLP now owns 4,192,350 shares of the medical instruments supplier’s stock valued at $170,084,000 after buying an additional 774,089 shares during the period. BlackRock Fund Advisors increased its position in shares of Haemonetics Corporation by 8.6% in the third quarter. BlackRock Fund Advisors now owns 3,616,662 shares of the medical instruments supplier’s stock valued at $130,959,000 after buying an additional 284,894 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Haemonetics Corporation by 44.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,673,780 shares of the medical instruments supplier’s stock valued at $86,203,000 after buying an additional 822,653 shares during the period.
About Haemonetics Corporation
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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