Haemonetics (NYSE:HAE) Shares Down 3.2% – Time to Sell?

Haemonetics Co. (NYSE:HAE) fell 3.2% during trading on Wednesday . The company traded as low as $77.23 and last traded at $77.41. 140,726 shares changed hands during trading, a decline of 59% from the average session volume of 345,667 shares. The stock had previously closed at $79.96.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HAE. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research report on Friday, November 8th. 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 target for the company. Barrington Research reaffirmed an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $112.00 target price on shares of Haemonetics in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.78.

Haemonetics Stock Performance

The stock has a 50-day moving average price of $82.67 and a 200-day moving average price of $80.43. 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 $3.80 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.26 and a beta of 0.41.

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

Institutional Investors Weigh In On Haemonetics

Several hedge funds and other institutional investors have recently made changes to their positions in HAE. Commonwealth Equity Services LLC raised its position in Haemonetics by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after purchasing an additional 117 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Haemonetics by 3.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock valued at $392,000 after buying an additional 180 shares during the last quarter. Keene & Associates Inc. boosted its position in Haemonetics by 3.0% during the 3rd quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock worth $818,000 after buying an additional 298 shares during the period. Versor Investments LP increased its position in Haemonetics by 9.1% in the 3rd quarter. Versor Investments LP now owns 3,600 shares of the medical instruments supplier’s stock valued at $289,000 after acquiring an additional 300 shares during the period. Finally, First Personal Financial Services raised its stake in shares of Haemonetics by 2.9% during the third quarter. First Personal Financial Services now owns 11,110 shares of the medical instruments supplier’s stock valued at $893,000 after acquiring an additional 312 shares during the last quarter. 99.67% of the stock is 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.