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Downgrade Alert for Haemonetics (HAE)

By David Diaz

Haemonetics (NYSE:HAE) was downgraded from Outperform to Market Perform at Barrington today. The stock closed yesterday at $34.26 on volume of 442,000 shares, above average daily volume of 408,000.

Haemonetics Corporation designs, manufactures, and markets automated blood processing systems. The Company's products are for use in surgical blood salvage, blood component collections, and plasma collections. Haemonetics markets its products worldwide, primarily outside the United States.

There is potential upside of 5.1% for shares of Haemonetics based on a current price of $34.26 and an average consensus analyst price target of $36.00. The stock should discover initial support at its 200-day moving average (MA) of $33.62 and subsequent support at its 50-day MA of $33.24.

In the past 52 weeks, Haemonetics share prices have been bracketed by a low of $25.98 and a high of $43.85 and closed yesterday at $34.26, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.7%.

SmarTrend recommended that subscribers consider buying shares of Haemonetics on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.29. Since that recommendation, shares of Haemonetics have risen 17.8%. We continue to monitor HAE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades haemonetics

Ticker(s): HAE