Haemonetics Corp. (HAE) Receives New Coverage from Analysts at Off Wall Street
Equities researchers at Off Wall Street assumed coverage on shares of Haemonetics Corp. (NYSE:HAE) in a report released on Friday. The brokerage set a “sell” rating and a $24.00 price target on the stock. Off Wall Street’s price objective suggests a potential downside of 33.55% from the stock’s current price.
HAE has been the subject of several other reports. Zacks Investment Research raised Haemonetics Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 4th. CJS Securities cut Haemonetics Corp. from a “market outperform” rating to a “market perform” rating and set a $35.00 price target for the company. in a report on Tuesday, September 20th. Sidoti cut Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a report on Monday, August 15th. Jefferies Group boosted their price target on Haemonetics Corp. from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Finally, Barrington Research cut Haemonetics Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.00.
Haemonetics Corp. (NYSE:HAE) traded down 4.15% during trading on Friday, hitting $34.62. The stock had a trading volume of 262,634 shares. Haemonetics Corp. has a one year low of $25.98 and a one year high of $38.06. The stock’s 50-day moving average is $36.81 and its 200 day moving average is $32.61. The firm’s market cap is $1.78 billion.
Haemonetics Corp. (NYSE:HAE) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.03. The firm had revenue of $210 million for the quarter, compared to analyst estimates 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 for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. Equities analysts anticipate that Haemonetics Corp. will post $1.44 earnings per share for the current year.
In other news, CEO Christopher Simon purchased 60,000 shares of the stock in a transaction on Thursday, August 4th. The stock was purchased at an average price of $35.00 per share, with a total value of $2,100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald Merriman sold 4,337 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $35.14, for a total value of $152,402.18. Following the sale, the director now directly owns 22,088 shares of the company’s stock, valued at approximately $776,172.32. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its stake in Haemonetics Corp. by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the company’s stock worth $655,000 after buying an additional 100 shares during the period. Profund Advisors LLC increased 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 during the last quarter. JPMorgan Chase & Co. increased 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 during the last quarter. PineBridge Investments L.P. increased 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 during the last quarter. Finally, Fox Run Management L.L.C. increased 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 during the last quarter. 98.64% of the stock is owned by hedge funds and other institutional investors.
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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