Haemonetics Corporation (NYSE:HAE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Haemonetics exited first-quarter fiscal 2018 on a mixed note, with earnings beating the Zacks Consensus Estimate and revenues missing the same. Despite the encouraging growth in the Plasma and Haemonetics Management franchises, the underperformance at BloodCenter was quite a dampener. Meanwhile, the company’s strong cash position boosts investors’ confidence.Also the year-over-year increase in reported sales and gross margin buoys optimism. The company swung to operating income in the first quarter of fiscal 2018 from losses in the year-ago quarter. The company is also optimistic about strong market adoption of its NexSys PCS plasmapheresis system which recently received FDA approval. For the past six months, Haemonetics has been trading above the broader industry.”

Several other equities research analysts also recently weighed in on the stock. TheStreet raised shares of Haemonetics Corporation from a “c” rating to a “b-” rating in a research report on Monday, August 7th. BidaskClub raised shares of Haemonetics Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Barrington Research raised shares of Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating and set a $48.00 target price on shares of Haemonetics Corporation in a research note on Thursday, July 27th. Finally, JMP Securities raised shares of Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $40.86.

Haemonetics Corporation (HAE) traded up 0.94% during mid-day trading on Wednesday, hitting $43.00. The stock had a trading volume of 166,321 shares. Haemonetics Corporation has a one year low of $32.76 and a one year high of $43.74. The company has a 50 day moving average price of $40.42 and a 200-day moving average price of $40.22. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 558.44 and a beta of 0.90.

Haemonetics Corporation (NYSE:HAE) last posted its earnings results on Monday, August 7th. The medical instruments supplier reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business had revenue of $211 million for the quarter, compared to analyst estimates of $211.29 million. Haemonetics Corporation had a net margin of 0.48% and a return on equity of 11.07%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Equities analysts expect that Haemonetics Corporation will post $1.61 earnings per share for the current fiscal year.

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In other Haemonetics Corporation news, Director Ronald Merriman sold 17,471 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $40.33, for a total value of $704,605.43. Following the completion of the sale, the director now directly owns 24,925 shares of the company’s stock, valued at approximately $1,005,225.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake 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 worth $255,175,000 after buying an additional 6,276,880 shares during the period. Wellington Management Group LLP boosted its stake 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 worth $170,084,000 after buying an additional 774,089 shares during the period. Columbia Wanger Asset Management LLC purchased a new stake in shares of Haemonetics Corporation during the first quarter worth about $23,786,000. Vanguard Group Inc. boosted its stake 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 worth $190,449,000 after buying an additional 332,087 shares during the period. Finally, Black Creek Investment Management Inc. boosted its stake in shares of Haemonetics Corporation by 24.8% in the first quarter. Black Creek Investment Management Inc. now owns 1,396,483 shares of the medical instruments supplier’s stock worth $56,655,000 after buying an additional 277,870 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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