Haemonetics’ (HAE) Outperform Rating Reaffirmed at Barrington Research

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reiterated by stock analysts at Barrington Research in a note issued to investors on Monday, Benzinga reports. They presently have a $108.00 target price on the medical instruments supplier’s stock. Barrington Research’s price objective points to a potential upside of 42.86% from the stock’s current price.

HAE has been the subject of several other research reports. Needham & Company LLC raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research report on Wednesday, June 12th. Bank of America assumed coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price for the company. CL King began coverage on Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a research report on Tuesday, August 13th. Finally, Citigroup lowered their target price 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.14.

Haemonetics Stock Up 1.0 %

HAE stock traded up $0.77 on Monday, reaching $75.60. 101,476 shares of the company traded hands, compared to its average volume of 536,967. 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 firm has a fifty day simple moving average of $80.21 and a 200-day simple moving average of $84.05. Haemonetics has a one year low of $70.74 and a one year high of $97.97. The company has a market cap of $3.85 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 1.32 and a beta of 0.30.

Haemonetics (NYSE:HAE) last issued 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 the consensus estimate of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. Haemonetics’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. Research analysts anticipate that Haemonetics will post 4.58 earnings per share for the current year.

Insider Buying and Selling at Haemonetics

In related news, insider Stewart W. Strong sold 4,312 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $91.15, for a total value of $393,038.80. Following the transaction, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Stewart W. Strong sold 4,312 shares of the firm’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 transaction, the insider now directly owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The sale was disclosed in a legal filing with the SEC, which is available 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 value of $192,240.00. Following 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. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Haemonetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAE. Norges Bank bought a new position in shares of Haemonetics in the fourth quarter worth approximately $28,591,000. UBS Group AG boosted its holdings in Haemonetics by 62.1% in the 4th quarter. UBS Group AG now owns 72,087 shares of the medical instruments supplier’s stock worth $6,164,000 after buying an additional 27,618 shares during the period. TD Asset Management Inc boosted its holdings in Haemonetics by 14.6% in the 4th quarter. TD Asset Management Inc now owns 27,046 shares of the medical instruments supplier’s stock worth $2,313,000 after buying an additional 3,446 shares during the period. Allianz Asset Management GmbH raised its holdings in Haemonetics by 1.4% during the fourth quarter. Allianz Asset Management GmbH now owns 61,177 shares of the medical instruments supplier’s stock valued at $5,231,000 after acquiring an additional 829 shares during the period. Finally, TFO Wealth Partners LLC raised its holdings in Haemonetics by 29,450.0% during the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 589 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.