Haemonetics (NYSE:HAE) Shares Gap Down Following Weak Earnings

Haemonetics Co. (NYSE:HAE - Get Free Report) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $71.24, but opened at $64.00. Haemonetics shares last traded at $65.71, with a volume of 431,971 shares.

The medical instruments supplier reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HAE shares. Needham & Company LLC reduced their target price on shares of Haemonetics from $112.00 to $108.00 and set a "buy" rating for the company in a report on Friday. StockNews.com upgraded Haemonetics from a "hold" rating to a "buy" rating in a research note on Friday. Barrington Research lowered their target price on Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday. Raymond James reissued a "strong-buy" rating and issued a $115.00 target price (down from $120.00) on shares of Haemonetics in a report on Friday. Finally, JPMorgan Chase & Co. began coverage on Haemonetics in a report on Friday, December 6th. They set an "overweight" rating and a $116.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.67.

Institutional Trading of Haemonetics

Large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Haemonetics by 9.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier's stock worth $337,722,000 after purchasing an additional 363,702 shares during the period. Royce & Associates LP grew its position in shares of Haemonetics by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier's stock worth $97,304,000 after buying an additional 30,868 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Haemonetics by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier's stock valued at $95,986,000 after buying an additional 21,547 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Haemonetics by 29.5% in the third quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier's stock valued at $88,433,000 after acquiring an additional 250,833 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Haemonetics by 13.1% in the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock worth $71,500,000 after acquiring an additional 106,114 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Haemonetics Trading Up 2.0 %

The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.09 and a current ratio of 3.97. The company has a market capitalization of $3.04 billion, a P/E ratio of 23.82, a PEG ratio of 0.98 and a beta of 0.39. The company's fifty day simple moving average is $76.38 and its 200-day simple moving average is $78.22.

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.