Haemonetics (NYSE:HAE) Shares Down 3.2% – Should You Sell?

Haemonetics Co. (NYSE:HAE) shares traded down 3.2% during mid-day trading on Wednesday . The stock traded as low as $77.23 and last traded at $77.41. 140,726 shares were traded during trading, a decline of 59% from the average session volume of 345,667 shares. The stock had previously closed at $79.96.

Analyst Ratings Changes

A number of brokerages have commented on HAE. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $112.00 target price on shares of Haemonetics in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. assumed coverage on shares of Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target on the stock. Finally, Barrington Research reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Haemonetics presently has an average rating of “Moderate Buy” and an average price target of $108.78.

Haemonetics Stock Performance

The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.26 and a beta of 0.41. The stock’s 50-day simple moving average is $82.67 and its 200 day simple moving average is $80.43.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. During the same period in the previous year, the business earned $0.99 EPS. Haemonetics’s revenue was up 8.6% compared to the same quarter last year. Analysts expect that Haemonetics Co. will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

A number of institutional investors have recently bought and sold shares of HAE. Commonwealth Equity Services LLC raised its position in shares of Haemonetics by 3.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after acquiring an additional 117 shares during the period. Daiwa Securities Group Inc. bought a new stake in Haemonetics in the second quarter valued at approximately $82,000. Envestnet Asset Management Inc. raised its holdings in Haemonetics by 15.4% in the second quarter. Envestnet Asset Management Inc. now owns 41,712 shares of the medical instruments supplier’s stock worth $3,451,000 after purchasing an additional 5,556 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Haemonetics by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock worth $80,972,000 after purchasing an additional 57,665 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Haemonetics in the 2nd quarter valued at $4,592,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

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.