Haemonetics (NYSE:HAE) Reaches New 52-Week Low – Here’s Why

Shares of Haemonetics Co. (NYSE:HAE) reached a new 52-week low during trading on Monday . The company traded as low as $66.08 and last traded at $66.83, with a volume of 53532 shares. The stock had previously closed at $69.05.

Wall Street Analyst Weigh In

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

Haemonetics Stock Up 4.4 %

The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 1.07 and a beta of 0.39. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average is $78.16 and its two-hundred day moving average is $78.93.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. On average, sell-side analysts predict that Haemonetics Co. will post 4.59 EPS for the current year.

Hedge Funds Weigh In On Haemonetics

Institutional investors have recently added to or reduced their stakes in the business. Skylands Capital LLC grew its stake in shares of Haemonetics by 16.6% during the 4th quarter. Skylands Capital LLC now owns 27,175 shares of the medical instruments supplier’s stock valued at $2,122,000 after buying an additional 3,875 shares during the period. Keene & Associates Inc. lifted its position in shares of Haemonetics by 7.2% during the fourth quarter. Keene & Associates Inc. now owns 10,904 shares of the medical instruments supplier’s stock worth $851,000 after purchasing an additional 730 shares in the last quarter. Cardinal Capital Management boosted its position in Haemonetics by 5.4% in the 4th quarter. Cardinal Capital Management now owns 18,284 shares of the medical instruments supplier’s stock valued at $1,428,000 after buying an additional 935 shares during the last quarter. Peregrine Capital Management LLC increased its position in shares of Haemonetics by 1.7% during the fourth quarter. Peregrine Capital Management LLC now owns 141,803 shares of the medical instruments supplier’s stock worth $11,072,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Haemonetics by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 156,734 shares of the medical instruments supplier’s stock worth $12,238,000 after acquiring an additional 1,475 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.