Equities researchers at Off Wall Street began coverage on shares of Haemonetics Corp. (NYSE:HAE) in a report released on Friday. The firm set a “sell” rating and a $24.00 price target on the stock. Off Wall Street’s target price suggests a potential downside of 30.37% from the company’s current price.
A number of other analysts also recently commented on the company. Sidoti downgraded Haemonetics Corp. from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Monday, August 15th. Benchmark Co. boosted their price objective on Haemonetics Corp. from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, August 2nd. CJS Securities downgraded Haemonetics Corp. from a “market outperform” rating to a “market perform” rating and set a $35.00 price objective on the stock. in a research note on Tuesday, September 20th. Zacks Investment Research raised Haemonetics Corp. from a “strong sell” rating to a “hold” rating in a research note on Monday, July 4th. Finally, Jefferies Group boosted their price objective 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 assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $33.00.
Shares of Haemonetics Corp. (NYSE:HAE) opened at 34.47 on Friday. The firm has a 50-day moving average price of $36.71 and a 200-day moving average price of $32.58. Haemonetics Corp. has a 52 week low of $25.98 and a 52 week high of $38.06. The firm’s market capitalization is $1.77 billion.
Haemonetics Corp. (NYSE:HAE) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.03. Haemonetics Corp. had a positive return on equity of 10.75% and a negative net margin of 7.25%. The firm earned $210 million during the quarter, compared to the consensus estimate of $205.41 million. During the same period in the prior year, the firm posted $0.35 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts expect that Haemonetics Corp. will post $1.44 earnings per share for the current fiscal year.
In other news, Director Ronald Merriman sold 4,337 shares of Haemonetics Corp. stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.14, for a total transaction of $152,402.18. Following the transaction, the director now owns 22,088 shares in the company, valued at $776,172.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Simon purchased 60,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of $35.00 per share, for a total transaction of $2,100,000.00. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bogle Investment Management L P DE increased its position in shares of Haemonetics Corp. by 207.7% in the first quarter. Bogle Investment Management L P DE now owns 177,525 shares of the company’s stock worth $6,209,000 after buying an additional 119,822 shares in the last quarter. Wellington Management Group LLP increased its position 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. Goldman Sachs Group Inc. increased its position 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. State Street Corp increased its position in shares of Haemonetics Corp. by 1.1% in the first quarter. State Street Corp now owns 1,030,394 shares of the company’s stock worth $36,042,000 after buying an additional 11,371 shares during the period. Finally, Menta Capital LLC purchased a new position in shares of Haemonetics Corp. during the first quarter worth approximately $479,000. Institutional investors and hedge funds own 98.60% of the company’s stock.
Haemonetics Corp. Company Profile
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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