Haemonetics (NYSE:HAE) Shares Down 5.1%

Haemonetics Co. (NYSE:HAE) shares fell 5.1% during mid-day trading on Monday . The company traded as low as $120.86 and last traded at $121.08, 531,192 shares traded hands during trading. An increase of 17% from the average session volume of 452,562 shares. The stock had previously closed at $127.54.

A number of equities analysts have recently commented on HAE shares. Raymond James lifted their target price on shares of Haemonetics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barrington Research reiterated an “outperform” rating and set a $139.00 price target (up previously from $116.00) on shares of Haemonetics in a research note on Wednesday, August 7th. Morgan Stanley increased their price target on shares of Haemonetics from $128.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group raised their price objective on shares of Haemonetics from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, JMP Securities lifted their price objective on shares of Haemonetics to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $140.67.

The business has a 50-day simple moving average of $129.69 and a two-hundred day simple moving average of $106.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.34 and a current ratio of 2.10. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 2.90 and a beta of 0.81.



Haemonetics (NYSE:HAE) last announced its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.18. Haemonetics had a return on equity of 21.07% and a net margin of 5.05%. The company had revenue of $238.50 million for the quarter, compared to the consensus estimate of $236.82 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Research analysts predict that Haemonetics Co. will post 3.09 EPS for the current fiscal year.

In other news, SVP Jacqueline Scanlan sold 3,646 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $112.49, for a total value of $410,138.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dan Goldstein sold 475 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $133.23, for a total transaction of $63,284.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,326 shares of company stock worth $8,510,027. 1.32% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of HAE. Arjuna Capital lifted its position in Haemonetics by 22.2% in the second quarter. Arjuna Capital now owns 3,677 shares of the medical instruments supplier’s stock valued at $442,000 after purchasing an additional 667 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Haemonetics in the 2nd quarter valued at approximately $42,000. Maverick Capital Ltd. acquired a new position in Haemonetics during the 2nd quarter worth approximately $10,778,000. Eaton Vance Management increased its position in Haemonetics by 35.9% during the 2nd quarter. Eaton Vance Management now owns 203,875 shares of the medical instruments supplier’s stock worth $24,534,000 after purchasing an additional 53,819 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Haemonetics by 8.7% during the 2nd quarter. California Public Employees Retirement System now owns 84,919 shares of the medical instruments supplier’s stock worth $10,219,000 after buying an additional 6,761 shares in the last quarter. 99.57% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Company Profile (NYSE:HAE)

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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