Haemonetics (NYSE:HAE) Sets New 52-Week Low – Time to Sell?

Shares of Haemonetics Co. (NYSE:HAE) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $58.24 and last traded at $59.18, with a volume of 244221 shares. The stock had previously closed at $60.88.

Wall Street Analyst Weigh In

HAE has been the topic of several research analyst reports. Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $95.00 to $68.00 in a research note on Friday, February 7th. JMP Securities lowered their price objective on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC cut their target price on shares of Haemonetics from $108.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Barrington Research decreased their price objective on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.22.

Haemonetics Trading Down 3.2 %

The company has a market cap of $2.96 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.41. The stock has a 50-day moving average of $64.76 and a two-hundred day moving average of $74.13. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. On average, equities research analysts predict that Haemonetics Co. will post 4.55 earnings per share for the current year.

Institutional Trading of Haemonetics

Several large investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. bought a new stake in shares of Haemonetics during the 4th quarter valued at $25,000. Covestor Ltd raised its position in shares of Haemonetics by 146.8% during the fourth quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 439 shares during the last quarter. Whittier Trust Co. purchased a new position in Haemonetics during the fourth quarter valued at $62,000. Parkside Financial Bank & Trust lifted its stake in Haemonetics by 25.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 240 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Haemonetics by 36,520.0% in the fourth quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier’s stock worth $143,000 after purchasing an additional 1,826 shares during the last quarter. 99.67% of the stock is currently owned by 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.