Haemonetics (NYSE:HAE) Hits New 12-Month Low – Here’s What Happened

Haemonetics Co. (NYSE:HAE) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $69.29 and last traded at $70.50, with a volume of 327727 shares trading hands. The stock had previously closed at $75.05.

Analyst Ratings Changes

A number of research firms have commented on HAE. JPMorgan Chase & Co. initiated coverage on Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 target price on the stock. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $112.00 target price on shares of Haemonetics in a research note on Tuesday, December 3rd. Finally, Barrington Research restated an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a research 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 stock. According to data from MarketBeat.com, Haemonetics presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.78.

Haemonetics Stock Up 0.1 %

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 firm’s 50-day moving average price is $82.07 and its 200 day moving average price is $80.28. The firm has a market cap of $3.70 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 1.19 and a beta of 0.41.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating 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 firm had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. During the same period last year, the firm earned $0.99 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Haemonetics Co. will post 4.59 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Haemonetics by 3.3% in the second 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 in the last quarter. Envestnet Asset Management Inc. lifted its position 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 lifted its position in Haemonetics by 6.3% in 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 during the period. Renaissance Technologies LLC bought a new position in Haemonetics during the second quarter valued at about $4,592,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Haemonetics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,941 shares of the medical instruments supplier’s stock worth $491,000 after purchasing an additional 1,718 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.