Haemonetics (NYSE:HAE) Hits New 52-Week Low – Time to Sell?

Haemonetics Co. (NYSE:HAE)’s share price hit a new 52-week low on Tuesday . The company traded as low as $69.25 and last traded at $69.35, with a volume of 603380 shares. The stock had previously closed at $71.29.

Wall Street Analyst Weigh In

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

Haemonetics Price Performance

The company has a market cap of $3.49 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.14 and a beta of 0.41. The business’s 50 day moving average price is $79.26 and its 200-day moving average price is $79.45. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data 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 firm had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, analysts forecast that Haemonetics Co. will post 4.59 earnings per share for the current year.

Hedge Funds Weigh In On Haemonetics

Institutional investors and hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. raised its stake in Haemonetics by 3.8% during the third quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock valued at $392,000 after buying an additional 180 shares in the last quarter. Keene & Associates Inc. lifted its stake in Haemonetics by 3.0% during the third quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock worth $818,000 after purchasing an additional 298 shares during the last quarter. Versor Investments LP boosted its holdings in Haemonetics by 9.1% in the third quarter. Versor Investments LP now owns 3,600 shares of the medical instruments supplier’s stock worth $289,000 after purchasing an additional 300 shares during the period. First Personal Financial Services increased its stake in Haemonetics by 2.9% during the third quarter. First Personal Financial Services now owns 11,110 shares of the medical instruments supplier’s stock valued at $893,000 after purchasing an additional 312 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Haemonetics by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 5,880 shares of the medical instruments supplier’s stock worth $472,000 after purchasing an additional 400 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.