Haemonetics (NYSE:HAE) Hits New 1-Year High – What’s Next?

Haemonetics Corporation (NYSE:HAE)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $87.49 and last traded at $88.4750, with a volume of 21549 shares traded. The stock had previously closed at $85.54.

Analyst Ratings Changes

A number of analysts have recently issued reports on HAE shares. JPMorgan Chase & Co. decreased their target price on Haemonetics from $74.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Bank of America raised shares of Haemonetics from a “neutral” rating to a “buy” rating and raised their target price for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Haemonetics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Barrington Research cut their price objective on Haemonetics from $94.00 to $89.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Finally, BTIG Research reaffirmed a “buy” rating and set a $84.00 price target on shares of Haemonetics in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average price target of $78.89.

Haemonetics Price Performance

The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. The company has a 50 day simple moving average of $75.11 and a 200-day simple moving average of $66.09. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 43.03, a PEG ratio of 1.73 and a beta of 0.52.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $346.35 million during the quarter, compared to the consensus estimate of $336.83 million. Haemonetics had a return on equity of 27.30% and a net margin of 7.29%.The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. As a group, research analysts anticipate that Haemonetics Corporation will post 5.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently modified their holdings of the business. North Peak Capital Management LLC boosted its holdings in shares of Haemonetics by 204.4% during the fourth quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock valued at $88,405,000 after acquiring an additional 740,626 shares during the period. Aurora Investment Counsel acquired a new position in Haemonetics during the first quarter worth about $1,217,000. London Co. of Virginia increased its holdings in shares of Haemonetics by 33.9% in the first quarter. London Co. of Virginia now owns 352,807 shares of the medical instruments supplier’s stock valued at $19,884,000 after buying an additional 89,242 shares in the last quarter. Strs Ohio purchased a new stake in Haemonetics during the fourth quarter valued at about $986,000. Finally, Dimensional Fund Advisors LP raised its position in Haemonetics by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock valued at $74,731,000 after buying an additional 233,119 shares during the period. Institutional investors own 99.67% of the company’s stock.

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.