Haemonetics (NYSE:HAE) Price Target Raised to $119.00

Haemonetics (NYSE:HAE) had its target price raised by Robert W. Baird from $96.00 to $119.00 in a report issued on Friday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the medical instruments supplier’s stock.

Several other analysts have also recently issued reports on HAE. Raymond James Financial reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Haemonetics in a report on Friday, August 7th. Mizuho boosted their target price on shares of Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Barrington Research upped their target price on shares of Haemonetics from $95.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday. BTIG Research upped their target price 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. Finally, Wall Street Zen raised shares of Haemonetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.56.

Haemonetics Price Performance

HAE stock opened at $108.89 on Friday. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. Haemonetics has a 52-week low of $47.31 and a 52-week high of $109.57. The stock’s 50 day moving average is $81.69 and its two-hundred day moving average is $68.50. The company has a market capitalization of $4.95 billion, a PE ratio of 53.38, a P/E/G ratio of 2.18 and a beta of 0.52.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The company had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. During the same period in the prior year, the company posted $1.10 EPS. Haemonetics’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts predict that Haemonetics will post 5.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HAE. Kemnay Advisory Services Inc. acquired a new stake in Haemonetics in the fourth quarter worth $26,000. Leonteq Securities AG acquired a new position in shares of Haemonetics during the fourth quarter valued at $30,000. EverSource Wealth Advisors LLC boosted 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 valued at $31,000 after acquiring an additional 396 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Haemonetics during the fourth quarter worth about $34,000. Finally, Bayforest Capital Ltd bought a new position in shares of Haemonetics during the fourth quarter worth about $40,000. 99.67% of the stock is currently 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.