Price Change to Note: Is Buying Haemonetics Corporation Here a Winning Strategy?

Price Change to Note: Is Buying Haemonetics Corporation Here a Winning Strategy?

The stock of Haemonetics Corporation (NYSE:HAE) hit a new 52-week high and has $56.18 target or 43.00% above today’s $39.29 share price. The 6 months bullish chart indicates low risk for the $2.07B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $56.18 price target is reached, the company will be worth $890.10M 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 317,094 shares traded hands. Haemonetics Corporation (NYSE:HAE) has risen 14.80% since April 15, 2016 and is uptrending. It has outperformed by 10.17% the S&P500.

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. The firm has “Underperform” rating by Raymond James given on Monday, November 23. The stock of Haemonetics Corporation (NYSE:HAE) earned “Market Perform” rating by CJS Securities on Tuesday, September 20. Barrington Research upgraded Haemonetics Corporation (NYSE:HAE) on Tuesday, November 8 to “Outperform” rating. The stock has “Neutral” rating given by Sidoti on Monday, August 15. The rating was maintained by Benchmark with “Hold” on Monday, November 7. Goldman Sachs upgraded it to “Neutral” rating and $29 target price in Monday, May 16 report. The firm earned “Hold” rating on Wednesday, May 11 by Benchmark. The stock has “Buy” rating given by Jefferies on Tuesday, August 2. The stock of Haemonetics Corporation (NYSE:HAE) earned “Outperform” rating by Barrington Research on Tuesday, July 28. The firm has “Outperform” rating given on Tuesday, October 6 by Barrington Research.

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 1.55 in Q2 2016. Its down 0.20, from 1.75 in 2016Q1. The ratio dived, 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.
Parametric Associate Ltd has invested 0.01% of its portfolio in Haemonetics Corporation (NYSE:HAE). Panagora Asset Management has 0.02% invested in the company for 146,811 shares. Secor Cap L P holds 0.18% or 48,479 shares in its portfolio. Sentinel Asset Mgmt holds 0.26% or 375,148 shares in its portfolio. Principal Gru Inc reported 359,520 shares or 0.01% of all its holdings. Ngam Advisors L P has invested 0% of its portfolio in Haemonetics Corporation (NYSE:HAE). Blackrock has 0% invested in the company for 13,291 shares. Deutsche Bancorporation Ag has 272,675 shares for 0.01% of their US portfolio. Stifel Fin owns 16,748 shares or 0% of their US portfolio. Vanguard Group has 4.04 million shares for 0.01% of their US portfolio. Ls Ltd Company, a Michigan-based fund reported 2,148 shares. Fmr Limited Company, a Massachusetts-based fund reported 1.36 million shares. State Board Of Administration Of Florida Retirement last reported 0% of its portfolio in the stock. Renaissance Techs Lc has 777,300 shares for 0.04% of their US portfolio. Amalgamated Bankshares last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since August 4, 2016, the stock had 1 insider purchase, and 2 selling transactions for $1.43 million net activity. On Thursday, August 4 the insider Simon – Christopher bought $2.10M. $519,105 worth of shares were sold by FOOTE SUSAN BARTLETT on Friday, August 5. MERRIMAN RONALD also sold $152,398 worth of Haemonetics Corporation (NYSE:HAE) on Wednesday, August 17.

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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