Haemonetics Corp. (HAE) Research Coverage Started at Off Wall Street
HAE has been the topic of several other reports. Zacks Investment Research lowered Haemonetics Corp. from a hold rating to a sell rating in a report on Wednesday, August 3rd. Sidoti lowered Haemonetics Corp. from a buy rating to a neutral rating and set a $39.00 price objective on the stock. in a report on Monday, August 15th. Barrington Research lowered Haemonetics Corp. from an outperform rating to a market perform rating in a report on Wednesday, August 3rd. Benchmark Co. raised their price objective on Haemonetics Corp. from $28.00 to $32.00 and gave the company a hold rating in a report on Tuesday, August 2nd. Finally, Jefferies Group lifted their price target on Haemonetics Corp. from $32.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $33.00.
Shares of Haemonetics Corp. (NYSE:HAE) opened at 34.47 on Friday. The stock’s market cap is $1.77 billion. The company’s 50-day moving average price is $36.65 and its 200 day moving average price is $32.59. Haemonetics Corp. has a 12-month low of $25.98 and a 12-month high of $38.06.
Haemonetics Corp. (NYSE:HAE) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by $0.03. Haemonetics Corp. had a negative net margin of 7.25% and a positive return on equity of 10.75%. The business earned $210 million during the quarter, compared to analyst estimates of $205.41 million. During the same period in the previous year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that Haemonetics Corp. will post $1.44 earnings per share for the current year.
In related news, CEO Christopher Simon bought 60,000 shares of the stock in a transaction on 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald Merriman sold 4,337 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $35.14, for a total value of $152,402.18. Following 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. Company insiders own 1.50% of the company’s stock.
A number of large investors have recently made changes to their positions in HAE. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Haemonetics Corp. by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,277,588 shares of the company’s stock worth $44,690,000 after buying an additional 12,466 shares during the period. Hermes Investment Management Ltd. boosted its stake in shares of Haemonetics Corp. by 21.5% in the second quarter. Hermes Investment Management Ltd. now owns 626,624 shares of the company’s stock worth $18,166,000 after buying an additional 111,029 shares during the period. Wellington Management Group LLP boosted its stake in shares of Haemonetics Corp. by 5.2% in the first quarter. Wellington Management Group LLP now owns 1,959,806 shares of the company’s stock worth $68,554,000 after buying an additional 96,380 shares during the period. California Public Employees Retirement System boosted its stake in shares of Haemonetics Corp. by 4.3% in the second quarter. California Public Employees Retirement System now owns 102,700 shares of the company’s stock worth $2,977,000 after buying an additional 4,200 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Haemonetics Corp. by 1,068.1% in the first quarter. Goldman Sachs Group Inc. now owns 231,128 shares of the company’s stock worth $8,085,000 after buying an additional 211,341 shares during the period. Hedge funds and other institutional investors own 98.60% 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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