Haemonetics Co. (NYSE:HAE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Haemonetics Co. (NYSE:HAE) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $104.50.

Several equities research analysts have recently issued reports on HAE shares. Barrington Research lifted their price objective on shares of Haemonetics from $107.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a report on Tuesday, August 13th. Bank of America initiated coverage on Haemonetics in a report on Wednesday. They issued a “neutral” rating and a $85.00 price objective on the stock. Needham & Company LLC upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research note on Wednesday, June 12th. Finally, Citigroup dropped their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd.

Haemonetics Price Performance

Shares of NYSE HAE opened at $72.45 on Thursday. The stock’s 50-day moving average is $81.77 and its two-hundred day moving average is $83.95. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.33 and a beta of 0.30. Haemonetics has a 1-year low of $70.74 and a 1-year high of $97.97.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The firm had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. During the same period last year, the business earned $1.05 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. Analysts forecast that Haemonetics will post 4.58 EPS for the current fiscal year.

Insider Activity at Haemonetics

In other Haemonetics news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $90.00, for a total transaction of $192,240.00. Following the transaction, the executive vice president now owns 21,410 shares of the company’s stock, valued at $1,926,900. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Stewart W. Strong sold 4,312 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the sale, the insider now owns 18,196 shares in the company, valued at approximately $1,658,565.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $90.00, for a total transaction of $192,240.00. Following the completion of the transaction, the executive vice president now owns 21,410 shares in the company, valued at $1,926,900. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Haemonetics

Several hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in Haemonetics by 3.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after acquiring an additional 117 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Haemonetics by 6.9% during the second quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock worth $333,000 after purchasing an additional 260 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Haemonetics by 2.0% during the second quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier’s stock worth $1,176,000 after purchasing an additional 272 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Haemonetics by 2.5% during the first quarter. State of Michigan Retirement System now owns 12,474 shares of the medical instruments supplier’s stock worth $1,065,000 after purchasing an additional 300 shares during the period. Finally, Natixis Advisors L.P. grew its position in Haemonetics by 2.1% in the 4th quarter. Natixis Advisors L.P. now owns 15,819 shares of the medical instruments supplier’s stock valued at $1,352,000 after buying an additional 324 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

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.