Haemonetics (NYSE:HAE) Reaches New 12-Month Low – Time to Sell?

Haemonetics Co. (NYSE:HAE)’s share price reached a new 52-week low on Thursday . The company traded as low as $69.29 and last traded at $70.50, with a volume of 327727 shares traded. The stock had previously closed at $75.05.

Analyst Ratings Changes

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

Haemonetics Stock Up 0.0 %

The business’s fifty day simple moving average is $82.67 and its two-hundred day simple moving average is $80.43. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. The company has a market cap of $3.77 billion, a PE ratio of 31.18, a PEG ratio of 1.19 and a beta of 0.41.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share 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 during the quarter, compared to analysts’ expectations of $342.57 million. During the same quarter in the prior year, the firm posted $0.99 EPS. Haemonetics’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that Haemonetics Co. will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Haemonetics during the second quarter worth $39,000. Daiwa Securities Group Inc. acquired a new position in shares of Haemonetics during the 2nd quarter worth about $82,000. Canada Pension Plan Investment Board acquired a new position in shares of Haemonetics during the 2nd quarter worth about $83,000. Nisa Investment Advisors LLC lifted 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 valued at $92,000 after buying an additional 632 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Haemonetics in the 2nd quarter worth about $140,000. 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.