Haemonetics (NYSE:HAE) Receives “Outperform” Rating from Barrington Research

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a research note issued to investors on Monday, Benzinga reports. They currently have a $108.00 price objective on the medical instruments supplier’s stock. Barrington Research’s target price indicates a potential upside of 42.86% from the company’s previous close.

Several other analysts have also issued reports on the company. Bank of America started coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. CL King started coverage on shares of Haemonetics in a research report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. BTIG Research initiated coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target for the company. Finally, Citigroup decreased their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.14.

Haemonetics Price Performance

HAE traded up $0.77 on Monday, reaching $75.60. The company had a trading volume of 101,476 shares, compared to its average volume of 536,967. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. Haemonetics has a 52-week low of $70.74 and a 52-week high of $97.97. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 1.32 and a beta of 0.30. The business has a 50 day simple moving average of $80.21 and a 200 day simple moving average of $84.05.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The company had revenue of $336.17 million during the quarter, compared to analysts’ expectations of $335.08 million. During the same quarter last year, the firm posted $1.05 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Haemonetics will post 4.58 EPS for the current year.

Insider Transactions at Haemonetics

In other Haemonetics news, insider Stewart W. Strong sold 4,312 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $90.00, for a total transaction of $192,240.00. Following the sale, the executive vice president now owns 21,410 shares of the company’s stock, valued at approximately $1,926,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the transaction, the insider now owns 18,196 shares in the company, valued at approximately $1,658,565.40. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Haemonetics

Several large investors have recently bought and sold shares of HAE. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Haemonetics in the 2nd quarter valued at approximately $140,000. Point72 Asset Management L.P. raised its holdings in Haemonetics by 178.3% in the second quarter. Point72 Asset Management L.P. now owns 219,024 shares of the medical instruments supplier’s stock worth $18,120,000 after purchasing an additional 140,324 shares in the last quarter. Quarry LP purchased a new position in Haemonetics during the second quarter valued at $39,000. Creative Planning bought a new stake in shares of Haemonetics during the 2nd quarter valued at $368,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Haemonetics by 327.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock worth $25,445,000 after buying an additional 235,535 shares during the period. 99.67% of the stock is owned by institutional investors.

Haemonetics Company Profile

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.