Haemonetics (NYSE:HAE) Trading 11.8% Higher After Better-Than-Expected Earnings

Haemonetics Corporation (NYSE:HAE) traded up 11.8% on Thursday following a better than expected earnings announcement. The stock traded as high as $59.14 and last traded at $58.8670. 506,338 shares traded hands during trading, a decline of 38% from the average session volume of 813,595 shares. The stock had previously closed at $52.67.

The medical instruments supplier reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Haemonetics had a net margin of 13.31% and a return on equity of 27.32%. During the same quarter in the previous year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barrington Research set a $94.00 target price on Haemonetics in a research note on Friday, February 6th. Mizuho lowered their target price on Haemonetics from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. BTIG Research reiterated a “buy” rating and issued a $88.00 target price on shares of Haemonetics in a research note on Friday, February 6th. Wall Street Zen upgraded Haemonetics from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Citigroup lowered their target price on Haemonetics from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Haemonetics presently has a consensus rating of “Moderate Buy” and an average target price of $82.78.

Institutional Trading of Haemonetics

A number of hedge funds have recently made changes to their positions in the stock. Heartland Advisors Inc. grew its position in shares of Haemonetics by 13.3% during the first quarter. Heartland Advisors Inc. now owns 85,000 shares of the medical instruments supplier’s stock worth $4,791,000 after buying an additional 10,000 shares in the last quarter. Jennison Associates LLC grew its position in shares of Haemonetics by 86.2% during the first quarter. Jennison Associates LLC now owns 22,536 shares of the medical instruments supplier’s stock worth $1,270,000 after buying an additional 10,433 shares in the last quarter. Aurora Investment Counsel acquired a new stake in shares of Haemonetics during the first quarter worth approximately $1,217,000. Principal Financial Group Inc. grew its position in shares of Haemonetics by 25.4% during the first quarter. Principal Financial Group Inc. now owns 205,456 shares of the medical instruments supplier’s stock worth $11,580,000 after buying an additional 41,677 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Haemonetics by 239.6% during the first quarter. Hsbc Holdings PLC now owns 37,256 shares of the medical instruments supplier’s stock worth $2,097,000 after buying an additional 26,284 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Price Performance

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.75 and a quick ratio of 1.15. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 1.09 and a beta of 0.53. The business’s 50-day moving average price is $59.68 and its two-hundred day moving average price is $66.65.

About Haemonetics

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.