Haemonetics Corporation (NYSE:HAE)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a research report issued on Thursday. They presently have a $48.00 price target on the medical instruments supplier’s stock. Jefferies Group LLC’s price target suggests a potential upside of 14.29% from the company’s previous close.
A number of other brokerages have also recently issued reports on HAE. TheStreet cut shares of Haemonetics Corporation from a “b-” rating to a “c” rating in a research report on Monday, May 8th. Zacks Investment Research raised shares of Haemonetics Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. BidaskClub cut shares of Haemonetics Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, JMP Securities raised shares of Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.71.
Haemonetics Corporation (NYSE HAE) traded up 6.36% during midday trading on Thursday, hitting $42.00. 988,115 shares of the stock traded hands. The stock’s 50-day moving average price is $39.97 and its 200-day moving average price is $40.05. Haemonetics Corporation has a 52 week low of $30.29 and a 52 week high of $43.62. The stock’s market capitalization is $2.20 billion.
Haemonetics Corporation (NYSE:HAE) last issued its quarterly earnings results on Monday, May 8th. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Haemonetics Corporation had a negative net margin of 2.96% and a positive return on equity of 10.66%. The company had revenue of $228.10 million during the quarter, compared to analysts’ expectations of $215.06 million. During the same period last year, the company posted $0.37 EPS. Haemonetics Corporation’s revenue was down 5.9% on a year-over-year basis. Equities research analysts expect that Haemonetics Corporation will post $1.60 EPS for the current fiscal year.
In other Haemonetics Corporation news, Director Ronald Merriman sold 17,471 shares of Haemonetics Corporation stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $40.33, for a total value of $704,605.43. Following the completion of the transaction, the director now directly owns 24,925 shares of the company’s stock, valued at $1,005,225.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HAE. Ameritas Investment Partners Inc. acquired a new stake in Haemonetics Corporation during the first quarter worth approximately $179,000. State of Alaska Department of Revenue raised its stake in Haemonetics Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,740 shares of the medical instruments supplier’s stock worth $232,000 after buying an additional 130 shares during the period. AXA acquired a new stake in Haemonetics Corporation during the first quarter worth approximately $292,000. Kirr Marbach & Co. LLC IN raised its stake in Haemonetics Corporation by 1.1% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,230 shares of the medical instruments supplier’s stock worth $293,000 after buying an additional 80 shares during the period. Finally, Eqis Capital Management Inc. acquired a new stake in Haemonetics Corporation during the second quarter worth approximately $305,000.
Haemonetics Corporation Company Profile
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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