CL King Begins Coverage on Haemonetics (NYSE:HAE)

CL King assumed coverage on shares of Haemonetics (NYSE:HAE) in a research report report published on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $116.00 price objective on the medical instruments supplier’s stock.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC raised 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. JMP Securities reaffirmed a market outperform rating and issued a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Bank of America started coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They set a neutral rating and a $85.00 price target for the company. BTIG Research began coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a buy rating and a $112.00 price objective on the stock. Finally, Citigroup dropped their target price on shares of Haemonetics from $94.00 to $85.00 and set a neutral rating for the company in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $106.14.

Haemonetics Price Performance

Shares of NYSE HAE opened at $76.09 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $3.89 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.32 and a beta of 0.30. The stock’s 50-day simple moving average is $81.38 and its two-hundred day simple moving average is $84.03. Haemonetics has a twelve month low of $70.74 and a twelve month high of $97.97.

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

Insider Buying and Selling at Haemonetics

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

Institutional Trading of Haemonetics

A number of hedge funds have recently made changes to their positions in HAE. Quarry LP bought a new stake in shares of Haemonetics in the 2nd quarter worth approximately $39,000. TFO Wealth Partners LLC raised its holdings in Haemonetics by 29,450.0% in the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock worth $51,000 after acquiring an additional 589 shares during the last quarter. Covestor Ltd raised its holdings in Haemonetics by 184.8% in the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after acquiring an additional 438 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Haemonetics in the 2nd quarter worth approximately $82,000. Finally, Canada Pension Plan Investment Board purchased a new position in Haemonetics in the 2nd quarter worth approximately $83,000. 99.67% of the stock is owned by institutional investors.

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.