Haemonetics Corp. (NYSE:HAE) was downgraded by investment analysts at CJS Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday.
Several other equities research analysts have also recently weighed in on the stock. Sidoti cut shares of Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a research report on Monday, August 15th. Zacks Investment Research cut shares of Haemonetics Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Barrington Research cut shares of Haemonetics Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd. Jefferies Group increased their target price on shares of Haemonetics Corp. from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Finally, Benchmark Co. increased their target price on shares of Haemonetics Corp. from $28.00 to $32.00 and gave the company a “hold” rating in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.40.
Haemonetics Corp. (NYSE:HAE) traded down 0.83% during midday trading on Tuesday, reaching $36.92. 97,657 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.89 billion. The stock’s 50-day moving average is $36.22 and its 200-day moving average is $32.19. Haemonetics Corp. has a 12-month low of $25.98 and a 12-month high of $38.06.
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Haemonetics Corp. (NYSE:HAE) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.03. Haemonetics Corp. had a positive return on equity of 10.75% and a negative net margin of 7.25%. The business earned $210 million during the quarter, compared to analysts’ expectations of $205.41 million. During the same period in the previous year, the company posted $0.35 EPS. Haemonetics Corp.’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Haemonetics Corp. will post $1.44 earnings per share for the current year.
In other Haemonetics Corp. news, CEO Christopher Simon acquired 60,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were purchased at an average price of $35.00 per share, for a total transaction of $2,100,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald Merriman sold 4,337 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.14, for a total transaction of $152,402.18. Following the completion of the sale, the director now owns 22,088 shares in the company, valued at approximately $776,172.32. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Haemonetics Corp. during the fourth quarter worth $14,750,000. Fox Run Management L.L.C. acquired a new stake in Haemonetics Corp. during the first quarter worth $276,000. Ngam Advisors L.P. acquired a new stake in Haemonetics Corp. during the first quarter worth $362,000. TIAA CREF Investment Management LLC raised its stake in Haemonetics Corp. by 20.6% in the first quarter. TIAA CREF Investment Management LLC now owns 234,813 shares of the company’s stock worth $8,214,000 after buying an additional 40,032 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in Haemonetics Corp. by 4.0% in the first quarter. Teachers Advisors Inc. now owns 77,842 shares of the company’s stock worth $2,723,000 after buying an additional 2,968 shares during the last quarter. Hedge funds and other institutional investors own 98.78% of the company’s stock.
About Haemonetics Corp.
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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