Haemonetics Corporation (NYSE:HAE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Haemonetics exited second-quarter fiscal 2018 on a promising note, with earnings and revenues beating the Zacks Consensus Estimate. The company also witnessed year-over-year growth in both the counts. Continued expansion in newer geographies has helped the company deliver strong results in the recent past. Meanwhile, the company’s strong cash position boosts investors’ confidence. The company is also optimistic about strong market adoption of its NexSys PCS plasmapheresis system which recently received FDA approval. Further, the raised fiscal 2018 adjusted earnings guidance is encouraging. Over the last month, Haemonetics has been trading above the broader industry. However, we are disappointed with the fact that despite the encouraging growth in the Plasma and Hospitals, the company’s sluggish Blood Center business moderated overall growth in the reported quarter. Also, contraction in gross and operating margin is discouraging.”
HAE has been the topic of a number of other research reports. BidaskClub raised Haemonetics Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 price target (up previously from $38.00) on shares of Haemonetics Corporation in a research note on Friday, October 6th. Barrington Research raised Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Tuesday, August 8th. Craig Hallum reaffirmed a “hold” rating and issued a $50.00 price target (up previously from $40.00) on shares of Haemonetics Corporation in a research note on Wednesday, November 8th. Finally, TheStreet raised Haemonetics Corporation from a “c” rating to a “b-” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $51.33.
Haemonetics Corporation (NYSE:HAE) traded up $0.08 during midday trading on Tuesday, reaching $54.60. The company’s stock had a trading volume of 592,300 shares, compared to its average volume of 345,498. The firm has a market capitalization of $2,880.00, a price-to-earnings ratio of 33.45, a P/E/G ratio of 4.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.17 and a quick ratio of 1.51. Haemonetics Corporation has a one year low of $36.44 and a one year high of $55.19.
Haemonetics Corporation (NYSE:HAE) last released its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. The company had revenue of $225.40 million for the quarter, compared to analyst estimates of $219.12 million. Haemonetics Corporation had a return on equity of 11.16% and a net margin of 0.50%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. equities research analysts predict that Haemonetics Corporation will post 1.7 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new position in shares of Haemonetics Corporation in the 2nd quarter valued at $132,000. Riverhead Capital Management LLC raised its holdings in shares of Haemonetics Corporation by 79.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,407 shares of the medical instruments supplier’s stock valued at $135,000 after buying an additional 1,507 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Haemonetics Corporation in the 2nd quarter valued at $174,000. Shelton Capital Management purchased a new stake in shares of Haemonetics Corporation in the 2nd quarter valued at $204,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Haemonetics Corporation in the 2nd quarter valued at $260,000.
About Haemonetics Corporation
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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