Brokerages Set Haemonetics Co. (NYSE:HAE) Price Target at $107.88

Haemonetics Co. (NYSE:HAE) has received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $107.88.

Several research analysts have weighed in on the company. CL King assumed coverage on Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price target on the stock. Citigroup decreased their target price on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. BTIG Research began coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $112.00 price target on shares of Haemonetics in a research note on Friday, November 15th. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a research note on Tuesday, August 13th.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in Haemonetics by 6,573.6% in 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 purchasing an additional 836,623 shares during the period. FMR LLC lifted its holdings in shares of Haemonetics by 206.3% during the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after buying an additional 521,640 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Haemonetics by 9.5% during the third quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock worth $337,722,000 after buying an additional 363,702 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Haemonetics in the second quarter valued at about $30,080,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Haemonetics by 75.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock valued at $63,933,000 after acquiring an additional 343,214 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Haemonetics Price Performance

NYSE HAE opened at $87.89 on Tuesday. The firm’s 50 day moving average is $79.73 and its 200-day moving average is $82.32. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $4.41 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 1.37 and a beta of 0.32. Haemonetics has a 12-month low of $70.25 and a 12-month high of $97.97.

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

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.