Haemonetics (NYSE:HAE) PT Raised to $140.00

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Haemonetics (NYSE:HAE) had its price objective upped by Jefferies Financial Group from $125.00 to $140.00 in a research report released on Friday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the medical instruments supplier’s stock.

A number of other brokerages have also issued reports on HAE. Zacks Investment Research raised Haemonetics from a sell rating to a hold rating in a research note on Tuesday, April 9th. Barrington Research reissued an outperform rating and set a $116.00 price target (up from $112.00) on shares of Haemonetics in a research note on Wednesday, May 8th. Raymond James raised Haemonetics from a market perform rating to an outperform rating and set a $110.00 price target for the company in a research note on Tuesday, May 14th. Finally, TheStreet raised Haemonetics from a c+ rating to a b- rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $121.60.

NYSE:HAE opened at $117.16 on Friday. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 49.02, a price-to-earnings-growth ratio of 3.08 and a beta of 0.82. Haemonetics has a 1 year low of $80.24 and a 1 year high of $125.66. The company has a 50 day moving average of $120.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.44 and a quick ratio of 1.62.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.06. Haemonetics had a return on equity of 18.88% and a net margin of 5.69%. The firm had revenue of $249.30 million during the quarter, compared to analyst estimates of $250.62 million. During the same period last year, the company earned $0.43 EPS. Haemonetics’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts expect that Haemonetics will post 2.93 earnings per share for the current year.

In related news, CEO Christopher Simon sold 57,587 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $94.51, for a total transaction of $5,442,547.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William P. Mr. Burke sold 411 shares of Haemonetics stock in a transaction on Friday, June 7th. The shares were sold at an average price of $103.38, for a total value of $42,489.18. The disclosure for this sale can be found here. Insiders have sold a total of 105,754 shares of company stock valued at $10,455,709 over the last three months. 1.32% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of HAE. CIBC Asset Management Inc purchased a new position in shares of Haemonetics in the 2nd quarter valued at $230,000. Eagle Asset Management Inc. grew its stake in Haemonetics by 3.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 578,970 shares of the medical instruments supplier’s stock worth $69,673,000 after buying an additional 16,803 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Haemonetics during the 2nd quarter worth $257,000. Hillsdale Investment Management Inc. grew its stake in Haemonetics by 23.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 6,900 shares of the medical instruments supplier’s stock worth $830,000 after buying an additional 1,300 shares during the last quarter. Finally, Wagner Bowman Management Corp purchased a new position in Haemonetics during the 2nd quarter worth $270,000. 98.53% of the stock is owned by institutional investors and hedge funds.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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