Haemonetics Co. (NYSE:HAE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Haemonetics Co. (NYSE:HAE) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $107.88.

A number of equities research analysts recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Haemonetics in a report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $112.00 price objective on shares of Haemonetics in a report on Friday, November 15th. Bank of America initiated coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price for the company. BTIG Research began coverage on Haemonetics in a report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target on the stock. Finally, Barrington Research restated an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a research note on Friday, November 8th.

Hedge Funds Weigh In On Haemonetics

Large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its holdings in shares of 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 worth $70,267,000 after purchasing an additional 836,623 shares during the period. FMR LLC increased its stake in Haemonetics by 206.3% during the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock valued at $62,257,000 after acquiring an additional 521,640 shares during the period. Wellington Management Group LLP raised its holdings in Haemonetics by 9.5% in 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 acquiring an additional 363,702 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in Haemonetics in the 2nd quarter valued at approximately $30,080,000. Finally, Allspring Global Investments Holdings LLC lifted its position 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 acquiring an additional 343,214 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Stock Performance

Shares of HAE stock opened at $87.47 on Tuesday. Haemonetics has a fifty-two week low of $70.25 and a fifty-two week high of $97.97. The stock’s 50-day moving average is $79.99 and its two-hundred day moving average is $82.15. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. The firm has a market cap of $4.39 billion, a P/E ratio of 36.29, a PEG ratio of 1.37 and a beta of 0.32.

Haemonetics (NYSE:HAE) last issued 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. The firm had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. Analysts predict that Haemonetics will post 4.59 earnings per share 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.