Haemonetics (NYSE:HAE) Hits New 52-Week Low – Time to Sell?

Shares of Haemonetics Co. (NYSE:HAE) hit a new 52-week low on Thursday . The stock traded as low as $70.27 and last traded at $70.81, with a volume of 40656 shares trading hands. The stock had previously closed at $72.02.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. BTIG Research initiated coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective on the stock. Barrington Research restated an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research note on Monday, September 23rd. CL King began coverage on shares of Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Finally, Citigroup cut their target price on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.14.

Haemonetics Trading Down 0.8 %

The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.16 and a beta of 0.30. The business has a fifty day moving average of $75.64 and a two-hundred day moving average of $82.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The business had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. During the same period in the previous year, the company posted $1.05 earnings per share. Haemonetics’s revenue was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Haemonetics Co. will post 4.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in Haemonetics during the 2nd quarter valued at $39,000. Covestor Ltd boosted its stake in shares of Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 438 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Haemonetics during the 2nd quarter worth about $82,000. Canada Pension Plan Investment Board acquired a new position in Haemonetics in the 2nd quarter valued at about $83,000. Finally, EntryPoint Capital LLC purchased a new position in Haemonetics in the 1st quarter valued at about $86,000. 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.