Haemonetics (NYSE:HAE) Reaches New 1-Year Low After Analyst Downgrade

Haemonetics Co. (NYSE:HAE)’s stock price reached a new 52-week low on Monday after JMP Securities lowered their price target on the stock from $125.00 to $100.00. JMP Securities currently has a market outperform rating on the stock. Haemonetics traded as low as $58.80 and last traded at $59.88, with a volume of 221474 shares trading hands. The stock had previously closed at $59.34.

A number of other research analysts have also weighed in on HAE. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target on the stock. Barrington Research reduced their target price on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a report on Friday, November 8th. Needham & Company LLC cut their price target on Haemonetics from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $68.00 in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Haemonetics has an average rating of “Moderate Buy” and an average target price of $101.67.

Institutional Investors Weigh In On Haemonetics

Several large investors have recently made changes to their positions in HAE. Whittier Trust Co. acquired a new position in Haemonetics during the fourth quarter worth $62,000. Nisa Investment Advisors LLC grew its position in shares of Haemonetics by 124.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 632 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Haemonetics by 25.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 240 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Haemonetics by 36,520.0% during the 4th quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier’s stock worth $143,000 after purchasing an additional 1,826 shares during the last quarter. Finally, KBC Group NV lifted its stake in Haemonetics by 54.6% in the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after purchasing an additional 712 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Price Performance

The company has a quick ratio of 2.09, a current ratio of 3.97 and a debt-to-equity ratio of 1.35. The business has a fifty day moving average of $75.84 and a 200 day moving average of $78.01. The firm has a market cap of $3.09 billion, a P/E ratio of 24.23, a PEG ratio of 0.98 and a beta of 0.39.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. On average, sell-side analysts anticipate that Haemonetics Co. will post 4.59 earnings per share for the current year.

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.