BidaskClub downgraded shares of Haemonetics Corporation (NYSE:HAE) from a sell rating to a strong sell rating in a report released on Thursday morning.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Haemonetics Corporation from a hold rating to a sell rating in a research report on Tuesday, May 9th. TheStreet raised Haemonetics Corporation from a c rating to a b- rating in a research note on Thursday, April 13th. Jefferies Group LLC reissued a buy rating and set a $42.00 target price on shares of Haemonetics Corporation in a research note on Monday, May 8th. Finally, JMP Securities raised Haemonetics Corporation from a market perform rating to an outperform rating and set a $50.00 target price for the company in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Haemonetics Corporation has a consensus rating of Hold and a consensus target price of $38.71.

Shares of Haemonetics Corporation (NYSE:HAE) traded down 0.98% during trading on Thursday, hitting $41.59. 239,049 shares of the stock traded hands. Haemonetics Corporation has a 1-year low of $29.77 and a 1-year high of $43.62. The company has a 50 day moving average of $39.97 and a 200-day moving average of $40.05. The company’s market cap is $2.18 billion.

Haemonetics Corporation (NYSE:HAE) last announced its quarterly earnings results on Monday, May 8th. The medical instruments supplier reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $228.10 million for the quarter, compared to the consensus estimate of $215.06 million. Haemonetics Corporation had a negative net margin of 2.96% and a positive return on equity of 10.66%. Haemonetics Corporation’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. On average, equities analysts anticipate that Haemonetics Corporation will post $1.60 EPS for the current fiscal year.

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In related news, Director Ronald Merriman sold 17,471 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $40.33, for a total transaction of $704,605.43. Following the completion of the sale, the director now directly owns 24,925 shares of the company’s stock, valued at approximately $1,005,225.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Haemonetics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 4,694,325 shares of the medical instruments supplier’s stock valued at $190,449,000 after buying an additional 332,087 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Haemonetics Corporation by 22.6% in the first quarter. Wellington Management Group LLP now owns 4,192,350 shares of the medical instruments supplier’s stock valued at $170,084,000 after buying an additional 774,089 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Haemonetics Corporation by 9.3% in the first quarter. Wells Fargo & Company MN now owns 2,549,828 shares of the medical instruments supplier’s stock valued at $103,446,000 after buying an additional 217,836 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Haemonetics Corporation by 11.0% in the first quarter. Victory Capital Management Inc. now owns 2,394,135 shares of the medical instruments supplier’s stock valued at $97,130,000 after buying an additional 236,481 shares in the last quarter.

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.

Analyst Recommendations for Haemonetics Corporation (NYSE:HAE)

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