Haemonetics (NYSE:HAE) Sets New 12-Month Low – Should You Sell?

Haemonetics Co. (NYSE:HAE)’s share price hit a new 52-week low on Monday . The company traded as low as $58.24 and last traded at $59.18, with a volume of 244221 shares traded. The stock had previously closed at $60.88.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barrington Research reduced their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. StockNews.com downgraded Haemonetics from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Needham & Company LLC lowered their price objective on shares of Haemonetics from $108.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $95.00 to $68.00 in a research report on Friday, February 7th. Finally, Raymond James restated a “strong-buy” rating and set a $115.00 price target (down from $120.00) on shares of Haemonetics in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average price target of $101.22.

Haemonetics Stock Performance

The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 1.11 and a beta of 0.41. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55. The company’s fifty day simple moving average is $64.76 and its two-hundred day simple moving average is $74.13.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. On average, analysts forecast that Haemonetics Co. will post 4.55 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Haemonetics by 1.2% in the 4th quarter. Arizona State Retirement System now owns 14,853 shares of the medical instruments supplier’s stock worth $1,160,000 after buying an additional 181 shares during the last quarter. CWC Advisors LLC. boosted its position in Haemonetics by 7.4% in the fourth quarter. CWC Advisors LLC. now owns 3,083 shares of the medical instruments supplier’s stock worth $241,000 after purchasing an additional 212 shares during the last quarter. Vise Technologies Inc. grew its stake in Haemonetics by 8.7% in the 4th quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier’s stock valued at $221,000 after purchasing an additional 225 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Haemonetics by 25.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock valued at $92,000 after purchasing an additional 240 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Haemonetics by 7.8% during the 4th quarter. HighTower Advisors LLC now owns 3,353 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 244 shares during the period. 99.67% of the stock is 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 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 app.