CJS Securities cut shares of Haemonetics Corp. (NYSE:HAE) from a market outperform rating to a market perform rating in a report issued on Tuesday. CJS Securities currently has $35.00 price objective on the stock.
Several other brokerages have also weighed in on HAE. Jefferies Group upped their price objective on shares of Haemonetics Corp. from $32.00 to $40.00 and gave the company a buy rating in a report on Tuesday, August 2nd. Benchmark Co. upped their target price on shares of Haemonetics Corp. from $28.00 to $32.00 and gave the stock a hold rating in a report on Tuesday, August 2nd. Barrington Research lowered shares of Haemonetics Corp. from an outperform rating to a market perform rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Haemonetics Corp. from a strong sell rating to a hold rating in a report on Monday, July 4th. Finally, Sidoti lowered shares of Haemonetics Corp. from a buy rating to a neutral rating and set a $39.00 target price on the stock. in a report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $34.50.
Haemonetics Corp. (NYSE:HAE) opened at 37.48 on Tuesday. Haemonetics Corp. has a 12-month low of $25.98 and a 12-month high of $38.06. The company’s market cap is $1.92 billion. The company’s 50-day moving average price is $36.56 and its 200-day moving average price is $32.31.
Haemonetics Corp. (NYSE:HAE) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.25 earnings per share 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 company had revenue of $210 million for the quarter, compared to analyst estimates of $205.41 million. During the same quarter in the prior year, the company posted $0.35 EPS. Haemonetics Corp.’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that Haemonetics Corp. will post $1.44 earnings per share for the current year.
In related news, Director Ronald Merriman sold 4,337 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 22,088 shares of the company’s stock, valued at approximately $776,172.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Simon acquired 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average cost of $35.00 per share, with a total value of $2,100,000.00. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rutabaga Capital Management LLC MA acquired a new position in Haemonetics Corp. during the second quarter valued at approximately $17,805,000. Norges Bank acquired a new position in Haemonetics Corp. during the fourth quarter valued at approximately $14,750,000. Fuller & Thaler Asset Management Inc. increased its position in Haemonetics Corp. by 17.1% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,134,641 shares of the company’s stock valued at $61,883,000 after buying an additional 311,959 shares during the period. Heartland Advisors Inc. acquired a new position in Haemonetics Corp. during the second quarter valued at approximately $7,498,000. Finally, Dimensional Fund Advisors LP increased its position in Haemonetics Corp. by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,804,922 shares of the company’s stock valued at $52,324,000 after buying an additional 228,856 shares during the period. 98.64% of the stock is owned by institutional investors.
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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