Haemonetics Co. (NYSE:HAE) Receives $108.78 Average PT from Brokerages

Haemonetics Co. (NYSE:HAE) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $108.78.

Several research analysts have recently issued reports on HAE shares. CL King assumed coverage on Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective for the company. BTIG Research initiated coverage on Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target for the company. Bank of America assumed coverage on shares of Haemonetics in a report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price objective on the stock. Raymond James upgraded shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a report on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings 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 last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Haemonetics during the 3rd quarter worth approximately $382,000. XTX Topco Ltd lifted its position in Haemonetics by 84.9% during 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 in the last quarter. Zacks Investment Management raised its stake in shares of Haemonetics by 11.5% in the 3rd quarter. Zacks Investment Management now owns 16,921 shares of the medical instruments supplier’s stock valued at $1,360,000 after acquiring an additional 1,740 shares during the period. Finally, iSAM Funds UK Ltd acquired a new stake in Haemonetics in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Price Performance

Shares of HAE opened at $77.18 on Friday. The firm has a 50-day simple moving average of $81.38 and a two-hundred day simple moving average of $81.25. The stock has a market cap of $3.88 billion, a PE ratio of 32.02, a P/E/G ratio of 1.29 and a beta of 0.38. Haemonetics has a 1-year low of $70.25 and a 1-year high of $97.97. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.03. The company had revenue of $345.50 million during 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%. Haemonetics’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. As a group, analysts forecast that Haemonetics will post 4.59 EPS for the current year.

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.