Haemonetics (NYSE:HAE) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Haemonetics (NYSE:HAE) from an outperform rating to a strong-buy rating in a research note published on Friday morning, Marketbeat Ratings reports. They currently have $120.00 target price on the medical instruments supplier’s stock.

Several other research analysts have also recently issued reports on HAE. Citigroup lowered their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. 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 for the company. BTIG Research assumed coverage on Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price objective for the company. Barrington Research reissued an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research report on Monday, September 23rd. Finally, 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. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.88.

Haemonetics Trading Up 4.6 %

HAE opened at $91.40 on Friday. Haemonetics has a 12 month low of $70.25 and a 12 month high of $97.97. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 1.37 and a beta of 0.32. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.33. The business has a fifty day moving average price of $75.88 and a 200 day moving average price of $82.61.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS 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 firm had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. During the same period in the previous year, the firm posted $0.99 EPS. Haemonetics’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAE. Thrivent Financial for Lutherans raised its stake in Haemonetics by 6,573.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock valued at $70,267,000 after acquiring an additional 836,623 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Haemonetics during the 1st quarter worth approximately $38,706,000. Mizuho Markets Americas LLC purchased a new position in shares of Haemonetics during the 2nd quarter worth approximately $30,080,000. Allspring Global Investments Holdings LLC raised its stake in shares of Haemonetics by 75.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after buying an additional 343,214 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Haemonetics by 327.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock worth $25,445,000 after buying an additional 235,535 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other 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.