Haemonetics (NYSE:HAE) Downgraded to "Hold" Rating by StockNews.com

Haemonetics (NYSE:HAE - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Tuesday.

Several other equities analysts have also recently weighed in on the company. Needham & Company LLC cut their price target on Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, May 8th. JMP Securities cut their price target on Haemonetics from $125.00 to $100.00 and set a "market outperform" rating for the company in a report on Friday, February 7th. Bank of America cut Haemonetics from a "neutral" rating to an "underperform" rating and cut their price target for the company from $95.00 to $68.00 in a report on Friday, February 7th. Barrington Research cut their price target on Haemonetics from $108.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, Raymond James restated a "strong-buy" rating and set a $105.00 price target (down previously from $115.00) on shares of Haemonetics in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.89.

Haemonetics Stock Performance

NYSE:HAE opened at $70.23 on Tuesday. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. Haemonetics has a 12-month low of $55.30 and a 12-month high of $97.97. The stock has a 50-day moving average price of $62.81 and a 200 day moving average price of $71.32. The stock has a market capitalization of $3.53 billion, a P/E ratio of 27.65, a P/E/G ratio of 1.11 and a beta of 0.32.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.02. The business had revenue of $330.60 million during the quarter, compared to analysts' expectations of $329.38 million. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Equities research analysts forecast that Haemonetics will post 4.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently modified their holdings of the stock. Boston Trust Walden Corp lifted its stake in shares of Haemonetics by 13.1% in the 4th quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock valued at $71,500,000 after purchasing an additional 106,114 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Haemonetics during the 4th quarter worth approximately $319,000. Pacer Advisors Inc. lifted its stake in shares of Haemonetics by 36.1% during the 4th quarter. Pacer Advisors Inc. now owns 10,104 shares of the medical instruments supplier's stock worth $789,000 after acquiring an additional 2,680 shares during the last quarter. Norges Bank bought a new stake in shares of Haemonetics during the 4th quarter worth approximately $32,803,000. Finally, Voya Investment Management LLC lifted its stake in shares of Haemonetics by 820.5% during the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock worth $24,748,000 after acquiring an additional 282,521 shares during the last quarter. 99.67% of the stock is owned by 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.

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