Haemonetics Corp. (HAE) Trading Down 1.7%
Haemonetics Corp. (NYSE:HAE)’s share price dropped 1.7% during trading on Monday . The stock traded as low as $35.01 and last traded at $35.65, with a volume of 211,653 shares trading hands. The stock had previously closed at $36.25.
HAE has been the subject of several research reports. Zacks Investment Research upgraded shares of Haemonetics Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, July 4th. BTIG Research reiterated a “hold” rating on shares of Haemonetics Corp. in a research report on Sunday, May 15th. Morgan Stanley reiterated a “hold” rating on shares of Haemonetics Corp. in a research report on Thursday, May 12th. Sidoti lowered shares of Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research report on Monday. Finally, Benchmark Co. lowered their price objective on shares of Haemonetics Corp. from $35.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, May 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $34.40.
The firm’s 50 day moving average is $31.63 and its 200 day moving average is $31.47. The stock’s market cap is $1.81 billion.
Haemonetics Corp. (NYSE:HAE) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by $0.03. During the same period in the previous year, the firm posted $0.35 earnings per share. The company had revenue of $210 million for the quarter, compared to the consensus estimate of $205.41 million. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that Haemonetics Corp. will post $1.44 EPS for the current year.
In related news, CEO Christopher Simon purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average price of $35.00 per share, with a total value of $2,100,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
A number of large investors recently modified their holdings of HAE. Comerica Bank raised its stake in shares of 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. Piermont Capital Management Inc. bought a new stake in shares of Haemonetics Corp. during the fourth quarter valued at approximately $2,791,000. Finally, Principal Financial Group Inc. raised its stake in shares of 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 (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.