The stock of Haemonetics Corporation (NYSE:HAE) hit a new 52-week high and has $41.48 target or 4.00% above today’s $39.88 share price. The 9 months bullish chart indicates low risk for the $2.09B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $41.48 price target is reached, the company will be worth $83.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 67,405 shares traded hands. Haemonetics Corporation (NYSE:HAE) has risen 18.68% since April 22, 2016 and is uptrending. It has outperformed by 13.27% the S&P500.
Analysts await Haemonetics Corporation (NYSE:HAE) to report earnings on February, 6. They expect $0.40 earnings per share, down 16.67% or $0.08 from last year’s $0.48 per share. HAE’s profit will be $20.96 million for 24.93 P/E if the $0.40 EPS becomes a reality. After $0.46 actual earnings per share reported by Haemonetics Corporation for the previous quarter, Wall Street now forecasts -13.04% negative EPS growth.
Haemonetics Corporation (NYSE:HAE) Ratings Coverage
Out of 7 analysts covering Haemonetics Corporation (NYSE:HAE), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. Haemonetics Corporation has been the topic of 13 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Benchmark maintained Haemonetics Corporation (NYSE:HAE) on Wednesday, May 11 with “Hold” rating. Barrington Research maintained the shares of HAE in a report on Tuesday, October 6 with “Outperform” rating. The stock has “Neutral” rating given by Sidoti on Monday, August 15. Jefferies maintained Haemonetics Corporation (NYSE:HAE) rating on Tuesday, August 2. Jefferies has “Buy” rating and $40 price target. CJS Securities downgraded the stock to “Market Perform” rating in Tuesday, September 20 report. The firm has “Outperform” rating given on Tuesday, July 28 by Barrington Research. Goldman Sachs upgraded it to “Neutral” rating and $29 target price in Monday, May 16 report. The firm has “Underperform” rating by Raymond James given on Monday, November 23. The rating was maintained by Benchmark on Monday, November 7 with “Hold”. Barrington Research upgraded Haemonetics Corporation (NYSE:HAE) on Tuesday, November 8 to “Outperform” rating.
According to Zacks Investment Research, “Haemonetics is a global company engaged in the design, manufacture and worldwide marketing of automated blood processing systems. These systems address important medical markets: surgical blood salvage, blood component collections and plasma collections. The majority of their business is outside the US.”
Insitutional Activity: The institutional sentiment decreased to 1.13 in Q2 2016. Its down 0.42, from 1.55 in 2016Q1. The ratio worsened, as 18 funds sold all Haemonetics Corporation shares owned while 44 reduced positions. 31 funds bought stakes while 65 increased positions. They now own 50.62 million shares or 0.12% more from 50.56 million shares in 2016Q1.
Martingale Asset L P has invested 0.03% of its portfolio in Haemonetics Corporation (NYSE:HAE). American Gru holds 0% or 38,060 shares in its portfolio. Moreover, Stevens Mngmt L P has 0.01% invested in Haemonetics Corporation (NYSE:HAE) for 7,631 shares. The New York-based Blackrock Inc has invested 0% in Haemonetics Corporation (NYSE:HAE). The Illinois-based Northern Tru Corporation has invested 0.01% in Haemonetics Corporation (NYSE:HAE). Da Davidson & Co accumulated 4,054 shares or 0% of the stock. The Connecticut-based Cubist Systematic Strategies Lc has invested 0.04% in Haemonetics Corporation (NYSE:HAE). Gotham Asset Mgmt last reported 39,575 shares in the company. Tfs Cap accumulated 0.19% or 35,457 shares. Deutsche Natl Bank Ag reported 272,675 shares or 0.01% of all its holdings. Wells Fargo And Mn last reported 2.67M shares in the company. Moreover, Gemmer Asset Management Limited Liability has 0% invested in Haemonetics Corporation (NYSE:HAE) for 105 shares. Rutabaga Cap Management Ltd Liability Corporation Ma accumulated 3.32% or 614,187 shares. North Star Asset has 207,450 shares for 0.85% of their US portfolio. First Quadrant Ltd Partnership Ca, a California-based fund reported 11,800 shares.
Insider Transactions: Since August 4, 2016, the stock had 1 buying transaction, and 2 selling transactions for $1.43 million net activity. $152,398 worth of Haemonetics Corporation (NYSE:HAE) was sold by MERRIMAN RONALD on Wednesday, August 17. 14,685 shares with value of $519,105 were sold by FOOTE SUSAN BARTLETT on Friday, August 5. 60,000 shares were bought by Simon – Christopher, worth $2.10M.
Another recent and important Haemonetics Corporation (NYSE:HAE) news was published by Prnewswire.com which published an article titled: “Haemonetics Corporation Announces Christopher Simon as President and Chief …” on May 09, 2016.
HAE Company Profile
Haemonetics Corporation (Haemonetics), incorporated on August 29, 1985, is a healthcare company. The Firm provides various products to clients involved in the processing, handling and analysis of blood. The Company’s divisions include Japan, EMEA, North America Plasma and All Other. It provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals. It provides analytical devices for measuring hemostasis, which enable healthcare providers to manage their patients’ bleeding risk. Haemonetics makes blood processing systems, and software, which tracks blood components. Haemonetics supplies systems and software, which facilitate blood transfusions and cell processing.
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