What Happened?
Shares of blood products company Haemonetics (NYSE:HAE). fell 2.1% in the morning session after Citigroup downgraded the stock to "Neutral" from "Buy."
The action came from analyst Joanne Wuensch. Despite the downgrade, Citigroup raised its price target on Haemonetics shares to $88 from $77. The stock's decline suggested that investors focused more on the negative rating change than the higher price target. A downgrade often signals an analyst's belief that a stock's potential for future gains has become more limited.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Haemonetics? Access our full analysis report here.
What Is The Market Telling Us
Haemonetics’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The previous big move we wrote about was 20 days ago when the stock gained 5.4% on the news that comments from a key Federal Reserve official bolstered hopes for an interest rate cut. New York Federal Reserve President John Williams stated he sees “room for a further adjustment” in the near term, sparking a significant market rally. Following his remarks, the probability of the central bank cutting rates at its December meeting jumped from 39% to over 73%, according to the CME FedWatch tool. This positive sentiment provided relief to markets amid concerns over high valuations, particularly in AI-related stocks.
Haemonetics is up 8.3% since the beginning of the year, and at $84.94 per share, it is trading close to its 52-week high of $87.16 from December 2025. Investors who bought $1,000 worth of Haemonetics’s shares 5 years ago would now be looking at an investment worth $723.82.
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