Haemonetics (NYSE:HAE) Downgraded by StockNews.com to “Hold”

Haemonetics (NYSE:HAE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other analysts also recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $105.00 target price on shares of Haemonetics in a research report on Tuesday, February 13th. TheStreet cut shares of Haemonetics from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th.

Haemonetics Stock Performance

HAE stock traded up $0.08 during trading hours on Friday, hitting $80.37. 372,066 shares of the stock were exchanged, compared to its average volume of 461,738. The company has a 50-day simple moving average of $77.23 and a two-hundred day simple moving average of $83.45. The firm has a market capitalization of $4.08 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.02 and a beta of 0.34. Haemonetics has a 12 month low of $70.74 and a 12 month high of $95.26. The company has a current ratio of 2.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.91.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, February 8th. The medical instruments supplier reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.10. The firm had revenue of $336.20 million for the quarter, compared to analyst estimates of $320.84 million. Haemonetics had a net margin of 9.97% and a return on equity of 22.37%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. On average, analysts forecast that Haemonetics will post 3.95 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. grew its stake in shares of Haemonetics by 65.2% during the fourth quarter. Meeder Asset Management Inc. now owns 342 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 135 shares during the last quarter. State of Wyoming acquired a new position in Haemonetics in the 4th quarter valued at approximately $28,000. Carmel Capital Partners LLC bought a new position in shares of Haemonetics during the third quarter valued at $30,000. Belpointe Asset Management LLC raised its stake in shares of Haemonetics by 65.5% during the first quarter. Belpointe Asset Management LLC now owns 455 shares of the medical instruments supplier’s stock valued at $38,000 after acquiring an additional 180 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Haemonetics by 3,963.6% during the third quarter. AdvisorNet Financial Inc now owns 447 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 436 shares during the period. 99.38% of the stock is currently 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 intravenous 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.