Analysts Set Haemonetics Co. (NYSE:HAE) Target Price at $109.50

Haemonetics Co. (NYSE:HAE) has been assigned a consensus recommendation of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $109.50.

HAE has been the subject of several research analyst reports. StockNews.com downgraded Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Needham & Company LLC raised Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Wednesday, June 12th. JMP Securities raised their price target on Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Friday, May 10th. Finally, Barrington Research raised their price target on Haemonetics from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th.

Insiders Place Their Bets

In other Haemonetics news, insider Stewart W. Strong sold 686 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $95.11, for a total value of $65,245.46. Following the completion of the sale, the insider now owns 18,196 shares in the company, valued at approximately $1,730,621.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Haemonetics news, insider Stewart W. Strong sold 8,857 shares of Haemonetics stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total value of $775,253.21. Following the completion of the transaction, the insider now owns 18,196 shares in the company, valued at approximately $1,592,695.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stewart W. Strong sold 686 shares of Haemonetics stock in a transaction on Monday, May 20th. The shares were sold at an average price of $95.11, for a total value of $65,245.46. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at approximately $1,730,621.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,380 shares of company stock worth $2,445,816. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Haemonetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Westfield Capital Management Co. LP increased its stake in shares of Haemonetics by 27.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock valued at $60,888,000 after buying an additional 152,098 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Haemonetics by 14.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 191,253 shares of the medical instruments supplier’s stock worth $16,354,000 after purchasing an additional 24,394 shares during the period. Isthmus Partners LLC acquired a new stake in shares of Haemonetics during the fourth quarter worth $1,530,000. Vanguard Group Inc. grew its stake in shares of Haemonetics by 0.5% during the third quarter. Vanguard Group Inc. now owns 5,380,858 shares of the medical instruments supplier’s stock worth $482,017,000 after purchasing an additional 27,146 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Haemonetics during the fourth quarter worth $888,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Trading Up 0.1 %

Shares of NYSE HAE opened at $82.78 on Friday. Haemonetics has a 12 month low of $70.74 and a 12 month high of $97.97. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 1.51 and a beta of 0.29. The company has a quick ratio of 1.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $88.90 and a 200-day simple moving average of $83.65.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $329.53 million. Haemonetics had a return on equity of 22.25% and a net margin of 8.98%. Haemonetics’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. Sell-side analysts predict that Haemonetics will post 4.57 EPS for the current year.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.