Haemonetics (NYSE:HAE) Sets New 52-Week Low After Analyst Downgrade

Haemonetics Co. (NYSE:HAE) shares hit a new 52-week low during mid-day trading on Monday after JMP Securities lowered their price target on the stock from $125.00 to $100.00. JMP Securities currently has a market outperform rating on the stock. Haemonetics traded as low as $58.80 and last traded at $59.88, with a volume of 221474 shares changing hands. The stock had previously closed at $59.34.

Other equities analysts have also issued research reports about the company. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 price objective on the stock. Barrington Research cut their price objective on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday. Needham & Company LLC cut their price objective on Haemonetics from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Friday. Finally, Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $95.00 to $68.00 in a research report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Institutional Trading of Haemonetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in Haemonetics by 124.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 632 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Haemonetics by 25.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after buying an additional 240 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Haemonetics by 36,520.0% in the 4th quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 1,826 shares during the last quarter. KBC Group NV boosted its stake in shares of Haemonetics by 54.6% in the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock worth $157,000 after buying an additional 712 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Haemonetics in the 3rd quarter worth approximately $204,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Price Performance

The business has a 50 day moving average price of $76.38 and a two-hundred day moving average price of $78.22. The stock has a market cap of $3.02 billion, a PE ratio of 23.73, a P/E/G ratio of 0.98 and a beta of 0.39. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.09 and a current ratio of 3.97.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. Research analysts expect that Haemonetics Co. will post 4.59 earnings per share for the current fiscal year.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.