Haemonetics (NYSE:HAE) Sets New 1-Year Low – Here’s What Happened

Shares of Haemonetics Co. (NYSE:HAE) hit a new 52-week low during trading on Thursday . The stock traded as low as $70.27 and last traded at $70.81, with a volume of 40656 shares changing hands. The stock had previously closed at $72.02.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BTIG Research started coverage on Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price for the company. Bank of America assumed coverage on shares of Haemonetics in a research note on Wednesday, September 11th. They set a “neutral” rating and a $85.00 target price on the stock. Citigroup decreased their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Barrington Research reissued an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a research report on Monday, September 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.14.

Haemonetics Stock Down 0.8 %

The firm’s 50-day moving average price is $75.64 and its two-hundred day moving average price is $82.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. The firm has a market cap of $3.64 billion, a PE ratio of 31.44, a P/E/G ratio of 1.16 and a beta of 0.30.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). The company had revenue of $336.17 million during the quarter, compared to analysts’ expectations of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. Haemonetics’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. As a group, equities research analysts expect that Haemonetics Co. will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Haemonetics in the second quarter valued at approximately $39,000. Covestor Ltd boosted its stake in Haemonetics by 184.8% during the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 438 shares during the period. Daiwa Securities Group Inc. purchased a new position in Haemonetics during the 2nd quarter worth $82,000. Canada Pension Plan Investment Board acquired a new position in Haemonetics in the second quarter valued at $83,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Haemonetics in the first quarter valued at about $86,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.