Haemonetics (HAE) Reaches New 1-Year High and Low at $76.27

Haemonetics Co. (NYSE:HAE)’s share price reached a new 52-week high and low on Wednesday . The company traded as low as $76.27 and last traded at $76.01, with a volume of 179412 shares. The stock had previously closed at $75.30.

A number of equities analysts recently weighed in on HAE shares. ValuEngine raised Haemonetics from a “buy” rating to a “strong-buy” rating in a report on Monday, April 9th. Zacks Investment Research raised Haemonetics from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, January 9th. Morgan Stanley raised Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 target price for the company in a report on Tuesday, January 2nd. Jefferies Group increased their target price on Haemonetics from $18.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Raymond James raised Haemonetics from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Haemonetics has an average rating of “Hold” and a consensus target price of $71.33.

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The company has a quick ratio of 1.33, a current ratio of 1.82 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4,048.65, a P/E ratio of 41.62, a P/E/G ratio of 3.30 and a beta of 0.89.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, beating the consensus estimate of $0.44 by $0.18. Haemonetics had a positive return on equity of 12.39% and a negative net margin of 1.94%. The firm had revenue of $234.04 million during the quarter, compared to analysts’ expectations of $227.79 million. During the same quarter last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. research analysts predict that Haemonetics Co. will post 1.86 earnings per share for the current fiscal year.

Haemonetics announced that its board has approved a stock repurchase plan on Tuesday, February 6th that authorizes the company to repurchase $260.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

In related news, EVP Michelle L. Basil sold 389 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $72.23, for a total value of $28,097.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dan Goldstein sold 518 shares of the stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $54.65, for a total value of $28,308.70. Following the completion of the sale, the vice president now directly owns 4,002 shares of the company’s stock, valued at approximately $218,709.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,021 shares of company stock valued at $64,640. Insiders own 1.20% of the company’s stock.

Several large investors have recently bought and sold shares of HAE. Russell Investments Group Ltd. increased its holdings in shares of Haemonetics by 78.6% in the third quarter. Russell Investments Group Ltd. now owns 41,981 shares of the medical instruments supplier’s stock valued at $1,884,000 after purchasing an additional 18,478 shares during the last quarter. JPMorgan Chase & Co. grew its position in Haemonetics by 106.5% in the third quarter. JPMorgan Chase & Co. now owns 85,562 shares of the medical instruments supplier’s stock worth $3,700,000 after acquiring an additional 44,128 shares during the period. AMP Capital Investors Ltd purchased a new position in Haemonetics in the third quarter worth approximately $422,000. Cubist Systematic Strategies LLC grew its position in Haemonetics by 31.6% in the third quarter. Cubist Systematic Strategies LLC now owns 8,677 shares of the medical instruments supplier’s stock worth $389,000 after acquiring an additional 2,082 shares during the period. Finally, California Public Employees Retirement System grew its position in Haemonetics by 9.2% in the third quarter. California Public Employees Retirement System now owns 100,558 shares of the medical instruments supplier’s stock worth $4,512,000 after acquiring an additional 8,458 shares during the period.

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About Haemonetics

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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