Haemonetics Corporation (NYSE:HAE) Upgraded by TheStreet to “B-“

TheStreet upgraded shares of Haemonetics Corporation (NYSE:HAE) from a c rating to a b- rating in a research report released on Monday, August 7th.

A number of other equities analysts have also recently commented on the stock. BidaskClub cut shares of Haemonetics Corporation from a hold rating to a sell rating in a research report on Friday, June 23rd. Zacks Investment Research cut shares of Haemonetics Corporation from a hold rating to a sell rating in a research report on Tuesday, May 9th. Jefferies Group LLC reiterated a buy rating and issued a $48.00 target price on shares of Haemonetics Corporation in a research report on Thursday, July 27th. JMP Securities upgraded shares of Haemonetics Corporation from a market perform rating to an outperform rating and set a $50.00 target price on the stock in a research report on Thursday, July 13th. Finally, Barrington Research upgraded shares of 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $41.00.

Shares of Haemonetics Corporation (NYSE HAE) opened at 41.58 on Monday. The company has a market cap of $2.19 billion, a PE ratio of 540.00 and a beta of 0.90. Haemonetics Corporation has a one year low of $32.76 and a one year high of $43.74. The stock’s 50 day moving average price is $40.68 and its 200-day moving average price is $40.27.

Haemonetics Corporation (NYSE:HAE) last issued its earnings results on Monday, August 7th. The medical instruments supplier reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $211 million for the quarter, compared to analysts’ expectations of $211.29 million. Haemonetics Corporation had a net margin of 0.48% and a return on equity of 11.07%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. On average, analysts expect that Haemonetics Corporation will post $1.61 EPS for the current year.

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In other Haemonetics Corporation news, Director Ronald Merriman sold 17,471 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $40.33, for a total value of $704,605.43. Following the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Haemonetics Corporation by 48,854.9% in the first quarter. BlackRock Inc. now owns 6,289,728 shares of the medical instruments supplier’s stock worth $255,175,000 after buying an additional 6,276,880 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Haemonetics Corporation by 22.6% in the first quarter. Wellington Management Group LLP now owns 4,192,350 shares of the medical instruments supplier’s stock worth $170,084,000 after buying an additional 774,089 shares during the last quarter. Columbia Wanger Asset Management LLC bought a new stake in shares of Haemonetics Corporation during the first quarter worth $23,786,000. Vanguard Group Inc. raised its stake in shares of Haemonetics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 4,694,325 shares of the medical instruments supplier’s stock worth $190,449,000 after buying an additional 332,087 shares during the last quarter. Finally, Black Creek Investment Management Inc. raised its stake in shares of Haemonetics Corporation by 24.8% in the first quarter. Black Creek Investment Management Inc. now owns 1,396,483 shares of the medical instruments supplier’s stock worth $56,655,000 after buying an additional 277,870 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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