Haemonetics (NYSE:HAE) Trading Down 3.2% – Should You Sell?

Haemonetics Co. (NYSE:HAE) dropped 3.2% during mid-day trading on Wednesday . The stock traded as low as $77.23 and last traded at $77.41. Approximately 140,726 shares were traded during trading, a decline of 59% from the average daily volume of 345,667 shares. The stock had previously closed at $79.96.

Analyst Ratings Changes

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

Haemonetics Stock Up 0.1 %

The stock has a 50-day simple moving average of $82.60 and a 200-day simple moving average of $80.39. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.19 and a beta of 0.41.

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

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. acquired a new stake in shares of Haemonetics in the third quarter valued at $806,000. Loomis Sayles & Co. L P lifted its holdings in Haemonetics by 8.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 163,856 shares of the medical instruments supplier’s stock valued at $13,171,000 after acquiring an additional 12,310 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Haemonetics by 174.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 16,949 shares of the medical instruments supplier’s stock valued at $1,362,000 after acquiring an additional 10,774 shares during 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 valued at $66,206,000 after purchasing an additional 80,783 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Haemonetics by 206.3% in the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after purchasing an additional 521,640 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

About Haemonetics

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.