Haemonetics (NYSE:HAE) Rating Increased to Buy at Bank of America

Haemonetics (NYSE:HAE) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a $80.00 price target on the medical instruments supplier’s stock, up from their previous price target of $72.00. Bank of America‘s target price indicates a potential upside of 29.46% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Robert W. Baird set a $67.00 target price on shares of Haemonetics in a report on Friday, May 8th. Barrington Research dropped 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. Mizuho dropped their target price on shares of Haemonetics from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Haemonetics from $74.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Haemonetics Trading Up 3.7%

Haemonetics stock opened at $61.79 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.95 and a quick ratio of 1.87. The firm has a 50-day moving average of $58.13 and a 200-day moving average of $67.11. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 1.20 and a beta of 0.53. Haemonetics has a one year low of $47.31 and a one year high of $87.32.

Haemonetics (NYSE:HAE) last issued its 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 analysts’ expectations of $336.83 million. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. Haemonetics’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. On average, equities analysts expect that Haemonetics will post 5.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HAE. Kemnay Advisory Services Inc. bought a new position in shares of Haemonetics during the fourth quarter worth approximately $26,000. True Wealth Design LLC increased its holdings in shares of Haemonetics by 6,700.0% during the fourth quarter. True Wealth Design LLC now owns 340 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 335 shares during the period. Leonteq Securities AG bought a new position in shares of Haemonetics during the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Haemonetics by 2,640.0% during the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 396 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Haemonetics during the fourth quarter worth approximately $34,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Company Profile

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.