Haemonetics (NYSE:HAE) Reaches New 52-Week Low After Analyst Downgrade

Haemonetics Co. (NYSE:HAE)’s share price hit a new 52-week low during mid-day trading on Monday after JMP Securities lowered their price target on the stock from $125.00 to $100.00. JMP Securities currently has a market outperform rating on the stock. Haemonetics traded as low as $58.80 and last traded at $59.88, with a volume of 221474 shares. The stock had previously closed at $59.34.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 target price on the stock. Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $68.00 in a report on Friday. Barrington Research dropped their price objective on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday. Needham & Company LLC decreased their price objective on shares of Haemonetics from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Hedge Funds Weigh In On Haemonetics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Haemonetics by 124.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 632 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Haemonetics by 25.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after acquiring an additional 240 shares in the last quarter. AlphaQuest LLC increased its holdings in Haemonetics by 36,520.0% during the fourth quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier’s stock valued at $143,000 after buying an additional 1,826 shares during the period. KBC Group NV raised its holdings in Haemonetics by 54.6% in the fourth quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 712 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Haemonetics during the 3rd quarter valued at $204,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Performance

The firm’s 50-day simple moving average is $76.38 and its two-hundred day simple moving average is $78.22. The company has a current ratio of 3.97, a quick ratio of 2.09 and a debt-to-equity ratio of 1.35. The company has a market cap of $3.04 billion, a PE ratio of 23.82, a P/E/G ratio of 0.98 and a beta of 0.39.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. As a group, research analysts anticipate that Haemonetics Co. will post 4.59 earnings per share for the current fiscal year.

Haemonetics Company Profile

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.