Haemonetics Corporation (NYSE:HAE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Haemonetics Corporation (NYSE:HAE) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $99.7778.

A number of research firms have issued reports on HAE. Wall Street Zen raised shares of Haemonetics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Barrington Research boosted their target price on shares of Haemonetics from $95.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Mizuho raised their target price on Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Finally, Raymond James Financial increased their target price on shares of Haemonetics from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd.

Haemonetics Price Performance

Shares of HAE stock opened at $102.66 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91. The company’s 50-day simple moving average is $90.46 and its two-hundred day simple moving average is $73.02. The company has a market capitalization of $4.67 billion, a P/E ratio of 50.32, a P/E/G ratio of 2.02 and a beta of 0.54. Haemonetics has a one year low of $47.31 and a one year high of $109.57.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. Haemonetics’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. As a group, equities analysts anticipate that Haemonetics will post 5.29 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in Haemonetics by 12.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier’s stock worth $108,000 after acquiring an additional 211 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Haemonetics by 9.0% during the 2nd quarter. Quantinno Capital Management LP now owns 3,492 shares of the medical instruments supplier’s stock worth $261,000 after purchasing an additional 289 shares during the last quarter. UMB Bank n.a. raised its position in shares of Haemonetics by 110.9% during the 4th quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier’s stock worth $47,000 after purchasing an additional 306 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Haemonetics in the 4th quarter worth about $26,000. Finally, Leonteq Securities AG purchased a new stake in Haemonetics during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation is a medical technology company that develops and markets products and services for blood management. Its offerings support blood and plasma collection, blood component processing, surgical blood salvage, hemostasis testing and hospital transfusion management.

The company’s product portfolio includes automated plasma and blood component collection systems, equipment and disposables used in surgical cell salvage, and diagnostic technologies that help healthcare professionals assess coagulation and bleeding risk.