Haemonetics (HAE) Sets New 52-Week High and Low at $77.27

Haemonetics (NYSE:HAE) reached a new 52-week high and low during trading on Monday . The stock traded as low as $77.27 and last traded at $76.66, with a volume of 173316 shares. The stock had previously closed at $76.08.

HAE has been the topic of several research reports. Morgan Stanley raised shares of Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, January 9th. ValuEngine raised shares of Haemonetics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Raymond James raised shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Finally, Jefferies Group boosted their price objective on shares of Haemonetics from $18.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Haemonetics currently has an average rating of “Hold” and a consensus price target of $71.33.

The company has a market capitalization of $4,085.00, a PE ratio of 49.83, a P/E/G ratio of 3.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.82.



Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. The firm had revenue of $234.04 million for the quarter, compared to the consensus estimate of $227.79 million. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. equities analysts expect that Haemonetics will post 1.86 earnings per share for the current fiscal year.

Haemonetics declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 6th that permits the company to repurchase $260.00 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

In related news, VP Dan Goldstein sold 518 shares of the stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $54.65, for a total transaction of $28,308.70. Following the transaction, the vice president now owns 4,002 shares in the company, valued at $218,709.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michelle L. Basil sold 389 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $72.23, for a total transaction of $28,097.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,021 shares of company stock worth $64,640. Insiders own 1.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in Haemonetics by 23.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 158,486 shares of the medical instruments supplier’s stock valued at $9,205,000 after purchasing an additional 30,240 shares during the period. American International Group Inc. lifted its position in Haemonetics by 1.8% during the fourth quarter. American International Group Inc. now owns 42,271 shares of the medical instruments supplier’s stock valued at $2,455,000 after purchasing an additional 743 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Haemonetics by 16.7% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 23,100 shares of the medical instruments supplier’s stock valued at $1,341,000 after purchasing an additional 3,300 shares during the period. WINTON GROUP Ltd bought a new position in Haemonetics during the fourth quarter valued at approximately $6,257,000. Finally, BlackRock Inc. lifted its position in Haemonetics by 3.5% during the fourth quarter. BlackRock Inc. now owns 6,670,988 shares of the medical instruments supplier’s stock valued at $387,452,000 after purchasing an additional 225,160 shares during the period.

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About Haemonetics

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 plasma collection and storage products, including PCS brand plasma collection 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; Multicomponent Collection System brand apheresis equipment to collect specific blood components integrated from the donor; Automated Cell Processor brand solution to automate the washing and freezing of red cell components; and whole blood collection and processing products.

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