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Downgrade Alert for Haemonetics (HAE)

By Nick Russo

Haemonetics (NYSE:HAE) was downgraded from Buy to Neutral at Sidoti today. The stock closed yesterday at $35.75 on volume of 416,000 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.

Haemonetics has overhead space with shares priced $35.75, or 0.7% below the average consensus analyst price target of $36.00. The stock should find initial support at its 200-day moving average (MA) of $33.62 and further support at its 50-day MA of $33.24.

Haemonetics share prices have moved between a 52-week high of $43.85 and a 52-week low of $25.98 and closed yesterday at 38% above that low price at $35.75 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1%.

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 23.8%. 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