Haemonetics Co. (NYSE:HAE) Receives $107.88 Average Target Price from Analysts

Haemonetics Co. (NYSE:HAE) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $107.88.

Several brokerages have weighed in on HAE. Bank of America started coverage on Haemonetics in a report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price objective for the company. CL King initiated coverage on shares of Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective on the stock. Citigroup reduced their price objective on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a research report on Tuesday, August 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $112.00 price target on shares of Haemonetics in a research report on Friday, November 15th.

Haemonetics Price Performance

Shares of HAE stock opened at $87.89 on Tuesday. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 1.37 and a beta of 0.32. The firm’s 50 day moving average is $79.73 and its 200-day moving average is $82.32. Haemonetics has a 1 year low of $70.25 and a 1 year high of $97.97.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.03. The firm had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. Sell-side analysts forecast that Haemonetics will post 4.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Several large investors have recently modified their holdings of HAE. Geode Capital Management LLC grew its position in shares of Haemonetics by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock valued at $95,986,000 after purchasing an additional 21,547 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Haemonetics in the third quarter valued at approximately $382,000. XTX Topco Ltd boosted its holdings in shares of Haemonetics by 84.9% in the third quarter. XTX Topco Ltd now owns 8,450 shares of the medical instruments supplier’s stock valued at $679,000 after buying an additional 3,880 shares during the period. Zacks Investment Management increased its position in shares of Haemonetics by 11.5% during the third quarter. Zacks Investment Management now owns 16,921 shares of the medical instruments supplier’s stock worth $1,360,000 after acquiring an additional 1,740 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Haemonetics during the third quarter worth $204,000. 99.67% of the stock is currently owned by institutional investors.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.