Morgan Stanley Takes a Look at Haemonetics

Morgan Stanley has published a report on Haemonetics (NYSE: HAE).

In the report, Morgan Stanley wrote, "Hospital sales are unlikely to show the reacceleration management was hoping for as the OrthoPAT recall cuts into growth and pulls sales force focus away from blood management. The company was able to reiterate prior total revenue guidance of 4-6% on stronger plasma results, but negative hospital revisions underscore our prior concerns on aggressive guidance in this segment. We remain Underweight as the path to revenue acceleration and growth sustainability is still clouded."

Morgan Stanley rated Haemonetics an Underweight with a price target of $55.00. Haemonetics closed Monday at $58.36.