Haemonetics (NYSE:HAE) Now Covered by Analysts at Bank of America

Equities researchers at Bank of America started coverage on shares of Haemonetics (NYSE:HAE) in a report released on Wednesday, Marketbeat reports. The firm set a “neutral” rating and a $85.00 price target on the medical instruments supplier’s stock. Bank of America‘s price target suggests a potential upside of 16.03% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. BTIG Research began coverage on shares of Haemonetics in a research note on Tuesday. They set a “buy” rating and a $112.00 price target for the company. Citigroup dropped their target price on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a report on Wednesday, June 12th. Barrington Research boosted their price objective on Haemonetics from $107.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.50.

Haemonetics Trading Up 1.1 %

Shares of HAE stock opened at $73.26 on Wednesday. The company has a market cap of $3.73 billion, a PE ratio of 31.99, 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. The stock’s 50 day simple moving average is $81.55 and its two-hundred day simple moving average is $83.87. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33.

Haemonetics (NYSE:HAE) last released its quarterly 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). The company had revenue of $336.17 million for the quarter, compared to analysts’ expectations of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 EPS. Research analysts predict that Haemonetics will post 4.58 earnings per share for the current year.

Insider Buying and Selling at Haemonetics

In related news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $90.00, for a total value of $192,240.00. Following the completion of the sale, the executive vice president now directly owns 21,410 shares in the company, valued at $1,926,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 21,410 shares of the company’s stock, valued at $1,926,900. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stewart W. Strong sold 4,312 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $91.15, for a total value of $393,038.80. Following the sale, the insider now owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently added to or reduced their stakes in HAE. Quarry LP purchased a new position in Haemonetics in the second quarter worth $39,000. TFO Wealth Partners LLC grew its stake in Haemonetics by 29,450.0% during the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 589 shares during the last quarter. Covestor Ltd grew its stake in Haemonetics by 184.8% during the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 438 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Haemonetics during the 2nd quarter valued at about $82,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Haemonetics in the second quarter valued at about $83,000. Institutional investors 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.