Haemonetics (NYSE:HAE) Hits New 1-Year High – Here’s Why

Haemonetics Corporation (NYSE:HAE) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $109.72 and last traded at $108.72, with a volume of 75319 shares traded. The stock had previously closed at $106.24.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. BTIG Research lifted their price objective on shares of Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. boosted their price objective on shares of Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Raymond James Financial raised their target price on Haemonetics from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.78.

Haemonetics Stock Up 0.8%

The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The stock has a 50-day simple moving average of $93.65 and a 200-day simple moving average of $74.59. The firm has a market capitalization of $4.93 billion, a PE ratio of 53.17, a P/E/G ratio of 2.15 and a beta of 0.54.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The firm had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts forecast that Haemonetics Corporation will post 5.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its position in Haemonetics by 994.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock valued at $110,615,000 after acquiring an additional 1,254,035 shares during the last quarter. North Peak Capital Management LLC boosted its stake in shares of Haemonetics by 204.4% during the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock worth $88,405,000 after purchasing an additional 740,626 shares during the period. Dimensional Fund Advisors LP grew its holdings in Haemonetics by 21.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock valued at $74,731,000 after purchasing an additional 233,119 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in Haemonetics by 17.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier’s stock valued at $47,400,000 after purchasing an additional 124,020 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in Haemonetics in the 2nd quarter worth about $33,326,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Company Profile

Haemonetics Corporation is a medical technology company that develops and markets products and services for blood management. Its offerings support blood and plasma collection, blood component processing, surgical blood salvage, hemostasis testing and hospital transfusion management.

The company’s product portfolio includes automated plasma and blood component collection systems, equipment and disposables used in surgical cell salvage, and diagnostic technologies that help healthcare professionals assess coagulation and bleeding risk.