Haemonetics (NYSE:HAE) Stock Price Up 3.5% – Here’s What Happened

Haemonetics Co. (NYSE:HAE)’s share price shot up 3.5% during trading on Monday . The stock traded as high as $64.98 and last traded at $65.20. 75,392 shares changed hands during trading, a decline of 92% from the average session volume of 1,001,748 shares. The stock had previously closed at $63.02.

Analyst Ratings Changes

Several analysts have commented on HAE shares. JMP Securities dropped their price objective on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a report on Friday, February 7th. Needham & Company LLC cut their price target on shares of Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a report on Friday, February 7th. StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $95.00 to $68.00 in a research note on Friday, February 7th. Finally, Barrington Research reduced their price target on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

Haemonetics Trading Down 1.0 %

The business’s fifty day simple moving average is $71.58 and its two-hundred day simple moving average is $76.21. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.11 and a beta of 0.39.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. On average, equities analysts predict that Haemonetics Co. will post 4.55 EPS for the current year.

Institutional Investors Weigh In On Haemonetics

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Alpha Capital Management Ltd. purchased a new position in Haemonetics during the third quarter worth about $806,000. Loomis Sayles & Co. L P grew its holdings in Haemonetics by 8.1% during the third quarter. Loomis Sayles & Co. L P now owns 163,856 shares of the medical instruments supplier’s stock worth $13,171,000 after acquiring an additional 12,310 shares during the period. BNP Paribas Financial Markets raised its position in Haemonetics by 174.5% in the third quarter. BNP Paribas Financial Markets now owns 16,949 shares of the medical instruments supplier’s stock worth $1,362,000 after acquiring an additional 10,774 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Haemonetics by 10.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 823,663 shares of the medical instruments supplier’s stock worth $66,206,000 after purchasing an additional 80,783 shares in the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of Haemonetics by 13.1% during the 4th quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier’s stock worth $71,500,000 after purchasing an additional 106,114 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.