Haemonetics (NYSE:HAE) Reaches New 1-Year Low – Here’s Why

Shares of Haemonetics Co. (NYSE:HAE) hit a new 52-week low during trading on Tuesday . The company traded as low as $69.25 and last traded at $69.35, with a volume of 603380 shares traded. The stock had previously closed at $71.29.

Analysts Set New Price Targets

HAE has been the topic of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target for the company in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $112.00 price objective on shares of Haemonetics in a research report on Tuesday, December 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.78.

Haemonetics Price Performance

The firm has a market cap of $3.46 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.41. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average price of $79.91 and a 200 day moving average price of $79.68.

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

Hedge Funds Weigh In On Haemonetics

Hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Haemonetics in the 2nd quarter worth approximately $39,000. Canada Pension Plan Investment Board purchased a new position in Haemonetics during the second quarter worth about $83,000. Nisa Investment Advisors LLC boosted its stake in Haemonetics by 124.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after buying an additional 632 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Haemonetics in the 2nd quarter valued at about $140,000. Finally, KBC Group NV increased its stake in shares of Haemonetics by 54.6% during the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after acquiring an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.