Haemonetics (NYSE:HAE) Trading Up 7.5% – Time to Buy?

Haemonetics Corporation (NYSE:HAE)’s stock price was up 7.5% on Tuesday . The stock traded as high as $80.48 and last traded at $80.5250. Approximately 402,634 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 850,927 shares. The stock had previously closed at $74.88.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HAE shares. Barrington Research decreased their target price on shares of Haemonetics from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Citigroup raised their price objective on Haemonetics from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $72.00 to $80.00 in a research report on Friday, May 22nd. Wall Street Zen raised Haemonetics from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Haemonetics from $74.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Haemonetics Stock Up 1.5%

The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.58 and a beta of 0.56. The business’s fifty day moving average is $61.37 and its two-hundred day moving average is $67.28.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $346.35 million for the quarter, compared to analyst estimates of $336.83 million. Haemonetics had a return on equity of 27.30% and a net margin of 7.29%.Haemonetics’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. Equities analysts forecast that Haemonetics Corporation will post 5.23 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Haemonetics by 48.6% in the fourth quarter. AQR Capital Management LLC now owns 3,163,104 shares of the medical instruments supplier’s stock valued at $253,523,000 after purchasing an additional 1,034,226 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Haemonetics by 994.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock worth $110,615,000 after acquiring an additional 1,254,035 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Haemonetics by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock worth $74,731,000 after acquiring an additional 233,119 shares during the last quarter. North Peak Capital Management LLC increased its stake in Haemonetics by 204.4% during the fourth quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock worth $88,405,000 after acquiring an additional 740,626 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Haemonetics by 17.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier’s stock worth $47,400,000 after acquiring an additional 124,020 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.