Haemonetics (NYSE:HAE) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Haemonetics (NYSE:HAE) in a research note issued to investors on Friday, MarketBeat reports. The brokerage issued an overweight rating and a $116.00 price objective on the medical instruments supplier’s stock.

Other research analysts have also issued research reports about the company. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. 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 on the stock. BTIG Research initiated coverage on Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price on the stock. CL King initiated coverage on Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Finally, Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy 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 $108.78.

Haemonetics Stock Up 0.6 %

Shares of NYSE:HAE opened at $81.19 on Friday. The business’s 50 day simple moving average is $80.68 and its two-hundred day simple moving average is $81.69. The firm has a market cap of $4.08 billion, a P/E ratio of 33.69, a PEG ratio of 1.30 and a beta of 0.38. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. Haemonetics has a 52-week low of $70.25 and a 52-week high of $97.97.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.03. The business had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, research analysts forecast that Haemonetics will post 4.59 EPS for the current fiscal year.

Institutional Trading of Haemonetics

A number of hedge funds have recently bought and sold shares of HAE. Quarry LP purchased a new stake in Haemonetics in the second quarter worth $39,000. Daiwa Securities Group Inc. purchased a new stake in Haemonetics in the second quarter worth $82,000. Canada Pension Plan Investment Board purchased a new stake in Haemonetics in the second quarter worth $83,000. Nisa Investment Advisors LLC increased its position in Haemonetics by 124.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after buying an additional 632 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Haemonetics in the second quarter worth $140,000. 99.67% of the stock is currently owned by institutional investors.

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.