Haemonetics (NYSE:HAE) Reaches New 1-Year Low – Should You Sell?

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

Wall Street Analyst Weigh In

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

Haemonetics Trading Up 4.4 %

The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $3.47 billion, a P/E ratio of 28.64, a PEG ratio of 1.07 and a beta of 0.39. The firm’s 50-day simple moving average is $78.16 and its 200 day simple moving average is $78.93.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. During the same period in the previous year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Haemonetics Co. will post 4.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position 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 worth $92,000 after buying an additional 632 shares in the last quarter. KBC Group NV boosted its position in Haemonetics by 54.6% during the fourth quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after purchasing an additional 712 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Haemonetics in the third quarter valued at about $204,000. CWC Advisors LLC. acquired a new stake in shares of Haemonetics in the 3rd quarter valued at $231,000. Finally, Versor Investments LP raised its holdings in Haemonetics by 9.1% during the third quarter. Versor Investments LP now owns 3,600 shares of the medical instruments supplier’s stock valued at $289,000 after buying an additional 300 shares in the last quarter. 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.