HAE Stock Summary and Trading Ideas (Haemonetics | NYSE:HAE)

Haemonetics Corp aims to improve patient care and reduce the cost of healthcare by providing medical products and solutions in the blood and plasma component collection, surgical suite, and hospital transfusion service spaces. As such, the company operates under three segments: plasma, blood center, and hospital. The company places primary emphasis on its plasma and hospital segments due to their robust growth potential, whereas the blood center segment tends to be constrained by higher competition. Product revenue is driven by demand for disposable blood component collection and processing sets and the related equipment needed for proper functionality.

Haemonetics trades on the NYSE stock market under the symbol HAE.

As of April 24, 2024, HAE stock price climbed to $86.22 with 226,665 million shares trading.

HAE has a beta of 0.69, meaning it tends to be less sensitive to market movements. HAE has a correlation of 0.09 to the broad based SPY ETF.

HAE has a market cap of $4.38 billion. This is considered a Mid Cap stock.

Last quarter Haemonetics reported $336 million in Revenue and $1.04 earnings per share. This beat revenue expectation by $16 million and exceeded earnings estimates by $.10.

In the last 3 years, HAE stock traded as high as $95.26 and as low as $43.50.

The top ETF exchange traded funds that HAE belongs to (by Net Assets): VTI, IJH, VB, IWM, VXF.

HAE stock has underperformed the market in the last year with a return of +1.7%, while SPY returned +24.1%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in HAE shares. However, HAE has outperformed the market in the last 3 month and 2 week periods, returning +5.4% and +0.1%, while SPY returned +4.5% and -1.7%, respectively. This indicates HAE has been having a stronger performance recently.

HAE support price is $83.66 and resistance is $86.49 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HAE stock will trade within this expected range on the day.