Haemonetics Co. (NYSE:HAE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Haemonetics Co. (NYSE:HAE) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $101.67.

A number of brokerages have recently issued reports on HAE. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Needham & Company LLC reduced their price target on Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, February 7th. JMP Securities lowered their price objective on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Friday, February 7th. Bank of America cut shares of Haemonetics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $95.00 to $68.00 in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 price target on the stock.

Hedge Funds Weigh In On Haemonetics

Several hedge funds have recently bought and sold shares of HAE. FMR LLC boosted its position in shares of Haemonetics by 206.3% during the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after acquiring an additional 521,640 shares in the last quarter. Norges Bank bought a new stake in Haemonetics during the fourth quarter worth $32,803,000. Wellington Management Group LLP boosted its holdings in shares of Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after purchasing an additional 363,702 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Haemonetics by 820.5% in the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier’s stock valued at $24,748,000 after purchasing an additional 282,521 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Haemonetics by 434.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier’s stock worth $24,522,000 after buying an additional 255,338 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Up 1.9 %

HAE opened at $67.23 on Thursday. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. The stock’s fifty day simple moving average is $70.18 and its 200 day simple moving average is $75.83. Haemonetics has a 1-year low of $58.80 and a 1-year high of $97.97. The stock has a market cap of $3.38 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 1.11 and a beta of 0.39.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. As a group, research analysts expect that Haemonetics will post 4.55 earnings per share 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.