Analysts Set Haemonetics Corporation (HAE) PT at $34.80

Shares of Haemonetics Corporation (NYSE:HAE) have earned an average rating of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $34.80.

HAE has been the topic of several research reports. Zacks Investment Research cut Haemonetics Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Haemonetics Corporation in a research report on Monday, May 8th. Finally, TheStreet raised Haemonetics Corporation from a “c” rating to a “b-” rating in a research report on Thursday, April 13th.

Shares of Haemonetics Corporation (HAE) traded up 0.62% during midday trading on Tuesday, hitting $40.89. The company had a trading volume of 432,919 shares. The firm’s 50 day moving average is $41.52 and its 200 day moving average is $40.11. The company’s market capitalization is $2.15 billion. Haemonetics Corporation has a 52 week low of $28.15 and a 52 week high of $43.62.

Haemonetics Corporation (NYSE:HAE) last posted its earnings results on Monday, May 8th. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $228.10 million for the quarter, compared to analysts’ expectations of $215.06 million. Haemonetics Corporation had a positive return on equity of 10.66% and a negative net margin of 2.96%. Haemonetics Corporation’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Equities research analysts anticipate that Haemonetics Corporation will post $1.60 EPS for the current year.

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In other Haemonetics Corporation news, Director Ronald Merriman sold 17,471 shares of Haemonetics Corporation stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $40.33, for a total transaction of $704,605.43. Following the sale, the director now directly owns 24,925 shares of the company’s stock, valued at approximately $1,005,225.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in Haemonetics Corporation during the first quarter valued at $179,000. State of Alaska Department of Revenue raised its position in Haemonetics Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,740 shares of the medical instruments supplier’s stock valued at $232,000 after buying an additional 130 shares during the last quarter. Trexquant Investment LP acquired a new position in Haemonetics Corporation during the fourth quarter valued at about $269,000. AXA acquired a new position in Haemonetics Corporation during the first quarter valued at about $292,000. Finally, Kirr Marbach & Co. LLC IN raised its position in Haemonetics Corporation by 1.1% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,230 shares of the medical instruments supplier’s stock valued at $293,000 after buying an additional 80 shares during the last quarter.

Haemonetics Corporation Company Profile

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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