Haemonetics (NYSE:HAE) Reaches New 1-Year Low – Here’s Why

Haemonetics Co. (NYSE:HAE) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $69.29 and last traded at $70.50, with a volume of 327727 shares trading hands. The stock had previously closed at $75.05.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $112.00 price objective on shares of Haemonetics in a research note on Tuesday, December 3rd. Barrington Research reaffirmed an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a research report on Wednesday, December 4th. Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. started coverage on Haemonetics in a research report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.78.

Haemonetics Trading Up 0.1 %

The firm has a fifty day moving average of $82.07 and a 200-day moving average of $80.28. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 1.19 and a beta of 0.41.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. As a group, equities analysts predict that Haemonetics Co. will post 4.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in Haemonetics by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after purchasing an additional 117 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Haemonetics by 15.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,712 shares of the medical instruments supplier’s stock valued at $3,451,000 after buying an additional 5,556 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Haemonetics by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock worth $80,972,000 after buying an additional 57,665 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Haemonetics in the second quarter worth $4,592,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Haemonetics by 40.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,941 shares of the medical instruments supplier’s stock valued at $491,000 after acquiring an additional 1,718 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.