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

Haemonetics Co. (NYSE:HAE) shares reached a new 52-week low 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. The stock had previously closed at $59.34.

A number of other research firms have also issued reports on HAE. Barrington Research lowered their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday. Needham & Company LLC reduced their price objective on Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Friday. Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $95.00 to $68.00 in a research report on Friday. 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. Finally, JPMorgan Chase & Co. began coverage on Haemonetics in a research report on Friday, December 6th. They issued an “overweight” rating and a $116.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Haemonetics presently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. boosted its position in shares of Haemonetics by 3.8% during the third quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock worth $392,000 after buying an additional 180 shares during the period. Arizona State Retirement System boosted its position in shares of Haemonetics by 1.2% during the fourth quarter. Arizona State Retirement System now owns 14,853 shares of the medical instruments supplier’s stock worth $1,160,000 after buying an additional 181 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Haemonetics by 25.6% during the fourth 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 period. HighTower Advisors LLC boosted its position in shares of Haemonetics by 7.8% during the fourth quarter. HighTower Advisors LLC now owns 3,353 shares of the medical instruments supplier’s stock worth $262,000 after buying an additional 244 shares during the period. Finally, Keene & Associates Inc. boosted its position in shares of Haemonetics by 3.0% during the third quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock worth $818,000 after buying an additional 298 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Stock Up 1.4 %

The firm has a 50-day moving average of $76.38 and a 200 day moving average of $78.22. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.09. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 0.98 and a beta of 0.39.

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

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.