Haemonetics (NYSE:HAE) Reaches New 12-Month Low After Analyst Downgrade

Haemonetics Co. (NYSE:HAE) shares hit a new 52-week low during mid-day trading 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.

HAE has been the topic of several other reports. Barrington Research cut their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday. Needham & Company LLC decreased their price objective on Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a report on Friday. Raymond James upgraded shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 price target on the stock. Finally, Bank of America lowered shares of Haemonetics from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $95.00 to $68.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.67.

Institutional Trading of Haemonetics

A number of hedge funds have recently modified their holdings of HAE. Thrivent Financial for Lutherans increased its position in shares of Haemonetics by 14.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier’s stock worth $98,716,000 after purchasing an additional 164,111 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Haemonetics by 29.6% in the fourth quarter. William Blair Investment Management LLC now owns 446,258 shares of the medical instruments supplier’s stock worth $34,844,000 after purchasing an additional 101,807 shares during the last quarter. Cibc World Markets Corp acquired a new position in Haemonetics in the fourth quarter valued at $367,000. Natixis Advisors LLC bought a new stake in shares of Haemonetics in the 4th quarter valued at $1,194,000. Finally, Swiss National Bank raised its stake in Haemonetics by 1.2% during the 4th quarter. Swiss National Bank now owns 100,700 shares of the medical instruments supplier’s stock worth $7,863,000 after buying an additional 1,200 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Price Performance

The company has a quick ratio of 2.09, a current ratio of 3.97 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $3.04 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39. The business’s 50 day simple moving average is $76.38 and its two-hundred day simple moving average is $78.22.

Haemonetics (NYSE:HAE) last posted 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 return on equity of 23.66% and a net margin of 9.47%. 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.