Haemonetics (NYSE:HAE) Shares Gap Down on Disappointing Earnings

Shares of Haemonetics Co. (NYSE:HAE) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $71.24, but opened at $64.00. Haemonetics shares last traded at $65.71, with a volume of 431,971 shares.

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 9.10% and a return on equity of 22.67%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HAE shares. Barrington Research reaffirmed an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $112.00 target price on shares of Haemonetics in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. initiated coverage on Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target on the stock. Finally, 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 report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.78.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its position in shares of Haemonetics by 124.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after buying an additional 632 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Haemonetics by 25.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 240 shares during the period. KBC Group NV grew its holdings in shares of Haemonetics by 54.6% during the fourth quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after purchasing an additional 712 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Haemonetics during the 3rd quarter worth approximately $204,000. Finally, CWC Advisors LLC. bought a new stake in shares of Haemonetics in the 3rd quarter worth approximately $231,000. 99.67% of the stock is currently owned by institutional investors.

Haemonetics Stock Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The stock has a 50 day moving average of $77.44 and a 200 day moving average of $78.73. The stock has a market capitalization of $3.25 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.07 and a beta of 0.39.

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.