Haemonetics Corporation (NYSE:HAE) Stock Has Average Target Price of $110.00

Haemonetics Corporation (NYSE:HAE) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $110.00.

Several equities analysts have recently commented on HAE shares. Robert W. Baird upped their price objective on shares of Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Raymond James Financial increased their price target on shares of Haemonetics from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Barrington Research raised their price objective on shares of Haemonetics from $118.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. Mizuho raised their price objective on shares of Haemonetics from $95.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a report on Friday, August 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HAE. Fortitude Family Office LLC lifted its position in shares of Haemonetics by 104.5% during the 3rd quarter. Fortitude Family Office LLC now owns 272 shares of the medical instruments supplier’s stock worth $29,000 after purchasing an additional 139 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Haemonetics in the 2nd quarter valued at about $38,000. Root Financial Partners LLC acquired a new stake in shares of Haemonetics in the third quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Haemonetics during the 2nd quarter worth $44,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Haemonetics during the second quarter worth about $54,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Trading Down 0.2%

NYSE HAE opened at $119.57 on Tuesday. The firm’s 50-day moving average is $110.01 and its two-hundred day moving average is $78.85. Haemonetics has a 12 month low of $49.00 and a 12 month high of $123.77. 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 stock has a market capitalization of $5.44 billion, a P/E ratio of 58.61, a PEG ratio of 2.39 and a beta of 0.61.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The company had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. During the same quarter last year, the firm posted $1.10 earnings per share. Haemonetics’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Haemonetics will post 5.29 earnings per share for the current year.

About Haemonetics

Haemonetics Corporation (NYSE: HAE) is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company’s offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.