Brokerages Set Haemonetics Co. (NYSE:HAE) Target Price at $108.78

Haemonetics Co. (NYSE:HAE) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $108.78.

Several equities analysts have issued reports on HAE shares. Needham & Company LLC restated a “buy” rating and issued a $112.00 price target on shares of Haemonetics in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. started coverage on Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 price objective for the company. Barrington Research restated an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a report on Wednesday, December 4th. Finally, Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Friday, November 8th.

Hedge Funds Weigh In On Haemonetics

Several institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its stake in Haemonetics by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after acquiring an additional 117 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Haemonetics during the second quarter worth about $82,000. Envestnet Asset Management Inc. raised its holdings in shares of Haemonetics by 15.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 41,712 shares of the medical instruments supplier’s stock worth $3,451,000 after acquiring an additional 5,556 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Haemonetics by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock valued at $80,972,000 after purchasing an additional 57,665 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Haemonetics during the 2nd quarter worth approximately $4,592,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Stock Performance

NYSE HAE opened at $73.63 on Wednesday. Haemonetics has a fifty-two week low of $69.29 and a fifty-two week high of $97.97. The stock has a market cap of $3.70 billion, a PE ratio of 30.55, a PEG ratio of 1.19 and a beta of 0.41. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The firm’s fifty day moving average price is $82.07 and its two-hundred day moving average price is $80.28.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million during the quarter, compared to analysts’ expectations 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 firm earned $0.99 EPS. On average, equities analysts expect that Haemonetics will post 4.59 EPS for the current fiscal 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.