Haemonetics (NYSE:HAE) Sets New 12-Month Low – Here’s What Happened

Haemonetics Co. (NYSE:HAE) hit a new 52-week low during trading on Monday . The company traded as low as $66.08 and last traded at $66.83, with a volume of 53532 shares changing hands. The stock had previously closed at $69.05.

Analyst Ratings Changes

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

Haemonetics Price Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. The company has a market capitalization of $3.34 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.07 and a beta of 0.39. The stock’s 50 day simple moving average is $78.61 and its 200-day simple moving average is $79.07.

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

Institutional Trading of Haemonetics

A number of institutional investors have recently bought and sold shares of HAE. FMR LLC boosted its position in shares of Haemonetics by 206.3% in the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock valued at $62,257,000 after purchasing an additional 521,640 shares during the period. Wellington Management Group LLP increased its position in Haemonetics by 9.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock worth $337,722,000 after purchasing an additional 363,702 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Haemonetics by 75.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after acquiring an additional 343,214 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Haemonetics by 29.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock valued at $88,433,000 after purchasing an additional 250,833 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Haemonetics by 439.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 220,453 shares of the medical instruments supplier’s stock valued at $17,720,000 after buying an additional 179,621 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.