Haemonetics (NYSE:HAE) Receives New Coverage from Analysts at Bank of America

Bank of America began coverage on shares of Haemonetics (NYSE:HAE) in a report issued on Wednesday, Marketbeat reports. The firm set a “neutral” rating and a $85.00 price target on the medical instruments supplier’s stock. Bank of America‘s price target would indicate a potential upside of 14.96% from the company’s current price.

Several other equities research analysts have also recently weighed in on HAE. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Citigroup lowered their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. 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. BTIG Research initiated coverage on Haemonetics in a research note on Tuesday. They issued a “buy” rating and a $112.00 price objective on the stock. Finally, Barrington Research raised their target price on Haemonetics from $107.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.50.

Haemonetics Trading Up 1.7 %

Haemonetics stock opened at $73.94 on Wednesday. The business’s 50-day simple moving average is $82.01 and its 200-day simple moving average is $84.03. Haemonetics has a 52 week low of $70.74 and a 52 week high of $97.97. The firm has a market capitalization of $3.78 billion, a PE ratio of 32.29, a PEG ratio of 1.33 and a beta of 0.30. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76.

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

Insiders Place Their Bets

In other news, insider Stewart W. Strong sold 4,312 shares of the stock in a transaction 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 owns 18,196 shares in the company, valued at $1,658,565.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Anila Lingamneni sold 2,136 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stewart W. Strong sold 4,312 shares of Haemonetics stock in a transaction dated 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 owns 18,196 shares of the company’s stock, 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HAE. Quarry LP bought a new stake in shares of Haemonetics during the second quarter worth approximately $39,000. TFO Wealth Partners LLC lifted its stake in shares of Haemonetics by 29,450.0% in the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 589 shares during the period. Covestor Ltd lifted its stake in shares of Haemonetics by 184.8% in the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 438 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Haemonetics in the 2nd quarter worth $82,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Haemonetics during the second quarter worth $83,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.