Haemonetics (HAE) Upgraded at Morgan Stanley
Morgan Stanley upgraded shares of Haemonetics (NYSE:HAE) from an equal weight rating to an overweight rating in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have $51.00 target price on the medical instruments supplier’s stock.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Haemonetics from a buy rating to a hold rating in a report on Monday, November 20th. Craig Hallum reaffirmed a hold rating and issued a $50.00 target price (up from $40.00) on shares of Haemonetics in a report on Wednesday, November 8th. Finally, Barrington Research upped their target price on Haemonetics from $48.00 to $57.00 and gave the company an outperform rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $53.33.
Haemonetics (NYSE:HAE) traded down $0.87 during mid-day trading on Tuesday, hitting $61.76. The stock had a trading volume of 428,000 shares, compared to its average volume of 751,933. The company has a market capitalization of $3,280.00, a price-to-earnings ratio of 882.29, a PEG ratio of 4.71 and a beta of 0.99. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. Haemonetics has a 52 week low of $36.44 and a 52 week high of $63.90.
In other Haemonetics news, CFO Willaim P. Burke sold 13,193 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $54.04, for a total transaction of $712,949.72. Following the completion of the transaction, the chief financial officer now directly owns 27,227 shares of the company’s stock, valued at $1,471,347.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dan Goldstein sold 4,691 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $54.93, for a total value of $257,676.63. Following the transaction, the chief accounting officer now directly owns 3,747 shares of the company’s stock, valued at $205,822.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,486 shares of company stock valued at $3,050,827. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HAE. Russell Investments Group Ltd. grew its holdings in Haemonetics by 12.2% during the second quarter. Russell Investments Group Ltd. now owns 23,503 shares of the medical instruments supplier’s stock valued at $928,000 after purchasing an additional 2,553 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Haemonetics by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 568,454 shares of the medical instruments supplier’s stock worth $22,449,000 after acquiring an additional 24,451 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Haemonetics by 9.4% during the second quarter. Legal & General Group Plc now owns 99,893 shares of the medical instruments supplier’s stock worth $3,943,000 after acquiring an additional 8,543 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Haemonetics by 63.8% during the second quarter. BNP Paribas Arbitrage SA now owns 17,996 shares of the medical instruments supplier’s stock worth $711,000 after acquiring an additional 7,009 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Haemonetics by 0.9% during the second quarter. American Century Companies Inc. now owns 46,271 shares of the medical instruments supplier’s stock worth $1,827,000 after acquiring an additional 425 shares in the last quarter.
Haemonetics 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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