Haemonetics Corp. (HAE) Trading Up 6.4%
Shares of Haemonetics Corp. (NYSE:HAE) were up 6.4% during mid-day trading on Monday . The stock traded as high as $33.11 and last traded at $32.27, with a volume of 503,152 shares trading hands. The stock had previously closed at $30.32.
Several analysts have issued reports on HAE shares. Jefferies Group upped their price objective on Haemonetics Corp. from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. BTIG Research restated a “hold” rating on shares of Haemonetics Corp. in a research note on Sunday, May 15th. Morgan Stanley restated a “hold” rating on shares of Haemonetics Corp. in a research note on Thursday, May 12th. Benchmark Co. lowered their target price on Haemonetics Corp. from $35.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, May 11th. Finally, Zacks Investment Research raised Haemonetics Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.25.
The firm’s market capitalization is $1.76 billion. The stock has a 50-day moving average price of $29.91 and a 200 day moving average price of $31.12.
Haemonetics Corp. (NYSE:HAE) last released its earnings results on Monday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.03. During the same period in the previous year, the firm posted $0.35 EPS. The company had revenue of $210 million for the quarter, compared to analyst estimates of $205.41 million. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Haemonetics Corp. will post $1.44 earnings per share for the current fiscal year.
Other large investors recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in Haemonetics Corp. by 0.6% in the fourth quarter. Comerica Bank now owns 52,596 shares of the company’s stock valued at $1,596,000 after buying an additional 321 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Haemonetics Corp. by 3.0% in the fourth quarter. New York State Common Retirement Fund now owns 55,769 shares of the company’s stock valued at $1,798,000 after buying an additional 1,600 shares during the last quarter. Rhumbline Advisers boosted its stake in Haemonetics Corp. by 1.3% in the fourth quarter. Rhumbline Advisers now owns 75,509 shares of the company’s stock valued at $2,434,000 after buying an additional 935 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Haemonetics Corp. by 5.1% in the fourth quarter. Principal Financial Group Inc. now owns 344,105 shares of the company’s stock valued at $11,094,000 after buying an additional 16,768 shares during the last quarter.
Haemonetics Corporation is a healthcare company, which provides blood management solutions to its customers. The Company’s portfolio of integrated devices, information management, and consulting services offers blood management solutions for each facet of the blood supply chain. It serves three customer segments: manufacturers of plasma derived pharmaceuticals, blood collectors and hospitals.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.