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

Shares of Haemonetics Co. (NYSE:HAE) have been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $107.88.

Several brokerages recently issued reports on HAE. BTIG Research began coverage on Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 target price for the company. Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $108.00 target price on shares of Haemonetics in a research report on Friday, November 8th. Bank of America assumed coverage on Haemonetics in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $112.00 target price on shares of Haemonetics in a research note on Friday, November 15th.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds have recently added to or reduced their stakes in HAE. Thrivent Financial for Lutherans boosted its stake in Haemonetics by 6,573.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock valued at $70,267,000 after purchasing an additional 836,623 shares during the last quarter. FMR LLC boosted its stake in Haemonetics by 206.3% during the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock valued at $62,257,000 after purchasing an additional 521,640 shares during the last quarter. Wellington Management Group LLP boosted its stake in Haemonetics by 9.5% during 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 during the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Haemonetics in the 2nd quarter worth approximately $30,080,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Haemonetics by 75.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after buying an additional 343,214 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Trading Up 3.4 %

NYSE HAE opened at $88.49 on Tuesday. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. Haemonetics has a twelve month low of $70.25 and a twelve month high of $97.97. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.32. The business’s fifty day moving average is $78.99 and its 200 day moving average is $82.29.

Haemonetics (NYSE:HAE) last released its quarterly earnings data 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. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. During the same quarter last year, the business posted $0.99 EPS. Haemonetics’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Haemonetics will post 4.59 EPS for the current fiscal year.

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.