Haemonetics Corporation (NYSE:HAE) issued its earnings results on Monday, August 7th. The medical instruments supplier reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02, MarketWatch Earnings reports. Haemonetics Corporation had a return on equity of 11.07% and a net margin of 0.48%. The firm had revenue of $211 million for the quarter, compared to analyst estimates of $211.29 million. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis.
Haemonetics Corporation (NYSE HAE) traded down 0.67% on Friday, hitting $41.58. The stock had a trading volume of 141,983 shares. The firm has a market cap of $2.19 billion, a P/E ratio of 540.00 and a beta of 0.90. The firm’s 50-day moving average price is $40.68 and its 200-day moving average price is $40.27. Haemonetics Corporation has a 1-year low of $32.76 and a 1-year high of $43.74.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Haemonetics Corporation from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Thursday. TheStreet raised Haemonetics Corporation from a “c” rating to a “b-” rating in a research report on Monday, August 7th. BidaskClub raised Haemonetics Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Barrington Research raised Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Haemonetics Corporation in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $41.00.
In other news, Director Ronald Merriman sold 17,471 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 24,925 shares in the company, valued at $1,005,225.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new stake in Haemonetics Corporation during the second quarter worth $452,000. Piedmont Investment Advisors LLC purchased a new stake in Haemonetics Corporation during the second quarter worth $448,000. Susquehanna International Group LLP purchased a new stake in Haemonetics Corporation during the second quarter worth $445,000. The Manufacturers Life Insurance Company increased its stake in Haemonetics Corporation by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 39,906 shares of the medical instruments supplier’s stock worth $1,575,000 after buying an additional 488 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Haemonetics Corporation during the second quarter worth $6,115,000.
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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