Haemonetics Corporation (NYSE:HAE) Rating Reiterated by Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Haemonetics Corporation (NYSE:HAE) in a research report sent to investors on Thursday. They currently have a $48.00 price target on the medical instruments supplier’s stock.
Several other equities research analysts have also recently issued reports on the company. BidaskClub cut Haemonetics Corporation from a hold rating to a sell rating in a report on Friday, June 23rd. Zacks Investment Research cut Haemonetics Corporation from a hold rating to a sell rating in a report on Tuesday, May 9th. TheStreet upgraded Haemonetics Corporation from a c rating to a b- rating in a report on Thursday, April 13th. Finally, JMP Securities upgraded Haemonetics Corporation from a market perform rating to an outperform rating and set a $50.00 price objective on the stock in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Haemonetics Corporation currently has a consensus rating of Hold and an average target price of $38.71.
Haemonetics Corporation (NYSE HAE) traded down 0.98% during midday trading on Thursday, hitting $41.59. The company had a trading volume of 239,049 shares. The firm’s market capitalization is $2.18 billion. 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 price of $39.97 and a 200 day moving average price of $40.05.
Haemonetics Corporation (NYSE:HAE) last posted its quarterly earnings data on Monday, May 8th. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Haemonetics Corporation had a positive return on equity of 10.66% and a negative net margin of 2.96%. The company had revenue of $228.10 million for the quarter, compared to analysts’ expectations of $215.06 million. During the same period in the previous year, the firm posted $0.37 EPS. Haemonetics Corporation’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts forecast that Haemonetics Corporation will post $1.60 earnings per share for the current fiscal year.
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In other Haemonetics Corporation news, Director Ronald Merriman sold 17,471 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $40.33, for a total value of $704,605.43. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund raised its position in Haemonetics Corporation by 1.7% in the second quarter. Texas Permanent School Fund now owns 38,304 shares of the medical instruments supplier’s stock worth $1,513,000 after buying an additional 653 shares during the period. Bessemer Group Inc. raised its position in Haemonetics Corporation by 0.7% in the second quarter. Bessemer Group Inc. now owns 58,000 shares of the medical instruments supplier’s stock worth $2,290,000 after buying an additional 400 shares during the period. Rothschild Asset Management Inc. raised its position in Haemonetics Corporation by 0.3% in the second quarter. Rothschild Asset Management Inc. now owns 87,858 shares of the medical instruments supplier’s stock worth $3,470,000 after buying an additional 269 shares during the period. Cardinal Capital Management raised its position in Haemonetics Corporation by 16.1% in the second quarter. Cardinal Capital Management now owns 13,666 shares of the medical instruments supplier’s stock worth $540,000 after buying an additional 1,893 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Haemonetics Corporation by 4.1% in the second quarter. Great West Life Assurance Co. Can now owns 76,839 shares of the medical instruments supplier’s stock worth $3,033,000 after buying an additional 3,050 shares during the period.
Haemonetics Corporation 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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