Haemonetics Corporation (NYSE:HAE)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Morgan Stanley in a research note issued on Friday. They currently have a $43.00 target price on the medical instruments supplier’s stock, up from their prior target price of $38.00. Morgan Stanley’s target price would suggest a potential downside of 7.15% from the stock’s previous close.
Several other analysts have also issued reports on the company. Zacks Investment Research lowered Haemonetics Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. JMP Securities upgraded Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Thursday, July 13th. BidaskClub upgraded Haemonetics Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 target price on shares of Haemonetics Corporation in a report on Thursday, July 27th. Finally, TheStreet upgraded Haemonetics Corporation from a “c” rating to a “b-” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Haemonetics Corporation has an average rating of “Hold” and an average target price of $41.86.
Shares of Haemonetics Corporation (HAE) opened at 46.31 on Friday. The stock’s 50 day moving average price is $43.01 and its 200-day moving average price is $41.38. The stock has a market capitalization of $2.44 billion, a P/E ratio of 601.43 and a beta of 0.87. Haemonetics Corporation has a 1-year low of $32.76 and a 1-year high of $46.85.
Haemonetics Corporation (NYSE:HAE) last posted its quarterly earnings data on Monday, August 7th. The medical instruments supplier reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $211.29 million. Haemonetics Corporation had a return on equity of 11.07% and a net margin of 0.48%. Haemonetics Corporation’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Equities research analysts anticipate that Haemonetics Corporation will post $1.60 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Haemonetics Corporation by 1.1% in the second quarter. Arizona State Retirement System now owns 27,397 shares of the medical instruments supplier’s stock valued at $1,082,000 after buying an additional 300 shares during the period. Gotham Asset Management LLC bought a new stake in Haemonetics Corporation in the first quarter valued at approximately $641,000. AXA bought a new stake in Haemonetics Corporation in the first quarter valued at approximately $292,000. BlackRock Inc. raised its stake in Haemonetics Corporation by 48,854.9% in the first quarter. BlackRock Inc. now owns 6,289,728 shares of the medical instruments supplier’s stock valued at $255,175,000 after buying an additional 6,276,880 shares during the period. Finally, Aperio Group LLC raised its stake in Haemonetics Corporation by 15.0% in the second quarter. Aperio Group LLC now owns 10,695 shares of the medical instruments supplier’s stock valued at $422,000 after buying an additional 1,393 shares during the period.
About Haemonetics Corporation
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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