Barrington Research upgraded shares of Haemonetics Corporation (NYSE:HAE) from a market perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat Ratings reports. Barrington Research currently has $48.00 price objective on the medical instruments supplier’s stock. Barrington Research also issued estimates for Haemonetics Corporation’s Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.65 EPS and FY2019 earnings at $1.85 EPS.
Several other analysts have also recently issued reports on the stock. BidaskClub cut shares of Haemonetics Corporation from a hold rating to a sell rating in a report on Friday, June 23rd. Zacks Investment Research cut shares of Haemonetics Corporation from a hold rating to a sell rating in a report on Tuesday, May 9th. TheStreet raised shares of Haemonetics Corporation from a c rating to a b- rating in a report on Thursday, April 13th. Jefferies Group LLC reaffirmed a buy rating and issued a $42.00 price target on shares of Haemonetics Corporation in a report on Monday, May 8th. Finally, JMP Securities raised shares of Haemonetics Corporation from a market perform rating to an outperform rating and set a $50.00 price target on the stock in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $40.63.
Shares of Haemonetics Corporation (NYSE HAE) opened at 42.50 on Tuesday. The stock has a 50 day moving average of $40.24 and a 200-day moving average of $40.17. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 551.95 and a beta of 0.90. Haemonetics Corporation has a one year low of $32.76 and a one year high of $43.74.
Haemonetics Corporation (NYSE:HAE) last posted 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. Haemonetics Corporation had a net margin of 0.48% and a return on equity of 11.07%. The business had revenue of $211 million for the quarter, compared to analysts’ expectations of $211.29 million. During the same period in the previous year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Haemonetics Corporation will post $1.61 earnings per share for the current fiscal year.
In related news, Director Ronald Merriman sold 17,471 shares of the 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 completion of the transaction, the director now owns 24,925 shares in the company, valued at approximately $1,005,225.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. bought a new position in shares of Haemonetics Corporation during the second quarter worth about $132,000. Riverhead Capital Management LLC raised its position in shares of Haemonetics Corporation by 79.3% in the second quarter. Riverhead Capital Management LLC now owns 3,407 shares of the medical instruments supplier’s stock worth $135,000 after buying an additional 1,507 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of Haemonetics Corporation during the second quarter worth about $174,000. Ameritas Investment Partners Inc. bought a new position in shares of Haemonetics Corporation during the first quarter worth about $179,000. Finally, State of Alaska Department of Revenue raised its position in shares of 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 worth $232,000 after buying an additional 130 shares in 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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