Haemonetics Co. (NYSE:HAE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Haemonetics Co. (NYSE:HAE) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $108.78.

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $112.00 target price on shares of Haemonetics in a report on Tuesday, December 3rd. JPMorgan Chase & Co. assumed coverage on shares of Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. BTIG Research initiated coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a research note on Friday, November 8th. Finally, Bank of America began coverage on Haemonetics in a report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price objective for the company.

Hedge Funds Weigh In On Haemonetics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates lifted its stake in shares of Haemonetics by 88.9% in the second quarter. Raymond James & Associates now owns 16,951 shares of the medical instruments supplier’s stock worth $1,402,000 after buying an additional 7,979 shares in the last quarter. Legato Capital Management LLC increased its holdings in Haemonetics by 8.2% in the 2nd quarter. Legato Capital Management LLC now owns 8,088 shares of the medical instruments supplier’s stock worth $669,000 after buying an additional 614 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Haemonetics by 41.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,258 shares of the medical instruments supplier’s stock valued at $931,000 after acquiring an additional 3,274 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Haemonetics by 31.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,998 shares of the medical instruments supplier’s stock valued at $827,000 after acquiring an additional 2,370 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of Haemonetics by 28.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 229,663 shares of the medical instruments supplier’s stock worth $19,000,000 after acquiring an additional 50,902 shares during the period. Institutional investors own 99.67% of the company’s stock.

Haemonetics Stock Up 0.3 %

Shares of NYSE:HAE opened at $77.41 on Friday. Haemonetics has a 52-week low of $70.25 and a 52-week high of $97.97. The company has a market capitalization of $3.89 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.38. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The company has a fifty day moving average of $81.46 and a 200-day moving average of $81.12.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. During the same period in the previous year, the business posted $0.99 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Haemonetics will post 4.59 EPS for the current fiscal year.

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.