CJS Securities cut shares of Haemonetics Corp. (NYSE:HAE) from a market outperform rating to a market perform rating in a research report released on Tuesday. CJS Securities currently has $35.00 target price on the stock.
Other equities analysts have also recently issued reports about the company. Jefferies Group increased their target price on Haemonetics Corp. from $32.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, August 2nd. Benchmark Co. increased their target price on Haemonetics Corp. from $28.00 to $32.00 and gave the company a hold rating in a research note on Tuesday, August 2nd. Barrington Research cut Haemonetics Corp. from an outperform rating to a market perform rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Haemonetics Corp. from a strong sell rating to a hold rating in a research note on Monday, July 4th. Finally, Sidoti cut Haemonetics Corp. from a buy rating to a neutral rating and set a $39.00 target price for the company. in a research note on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Haemonetics Corp. currently has a consensus rating of Hold and a consensus price target of $34.50.
Haemonetics Corp. (NYSE:HAE) opened at 37.68 on Tuesday. The stock’s market capitalization is $1.93 billion. Haemonetics Corp. has a 52-week low of $25.98 and a 52-week high of $38.06. The company has a 50-day moving average of $36.49 and a 200-day moving average of $32.29.
Haemonetics Corp. (NYSE:HAE) last released its quarterly earnings results on Monday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.03. The company earned $210 million during the quarter, compared to analysts’ expectations of $205.41 million. Haemonetics Corp. had a positive return on equity of 10.75% and a negative net margin of 7.25%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS. Equities research analysts expect that Haemonetics Corp. will post $1.44 EPS for the current year.
In other news, Director Ronald Merriman sold 4,337 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.14, for a total transaction of $152,402.18. Following the transaction, the director now directly owns 22,088 shares of the company’s stock, valued at $776,172.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Simon purchased 60,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $35.00 per share, for a total transaction of $2,100,000.00. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its position in shares of Haemonetics Corp. by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 22,600 shares of the company’s stock worth $655,000 after buying an additional 100 shares during the period. Profund Advisors LLC raised its position in shares of Haemonetics Corp. by 0.9% in the second quarter. Profund Advisors LLC now owns 13,954 shares of the company’s stock worth $405,000 after buying an additional 124 shares during the period. JPMorgan Chase & Co. raised its position in shares of Haemonetics Corp. by 0.6% in the second quarter. JPMorgan Chase & Co. now owns 34,619 shares of the company’s stock worth $1,003,000 after buying an additional 201 shares during the period. PineBridge Investments L.P. raised its position in shares of Haemonetics Corp. by 4.2% in the second quarter. PineBridge Investments L.P. now owns 6,473 shares of the company’s stock worth $187,000 after buying an additional 261 shares during the period. Finally, Fox Run Management L.L.C. raised its position in shares of Haemonetics Corp. by 3.8% in the second quarter. Fox Run Management L.L.C. now owns 8,200 shares of the company’s stock worth $238,000 after buying an additional 300 shares during the period. 98.64% of the stock is currently owned by institutional investors.
Haemonetics Corp. 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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