Morgan Stanley is Not Surprised by Weak Results/Guidance from Haemonetics

In a report published Tuesday, Morgan Stanley analyst James Francescone reiterated an Equal-Weight rating on

. In the report, Morgan Stanley noted, “Weak results and guidance have become less surprising over the past several quarters. In the face of changing markets, management remains committed to same strategy that has failed to drive traction for several years. Our base case declines to $33 from $40 on large EPS revisions; we remain EW.” Haemonetics closed on Monday at $31.19.