Haemonetics’ (HAE) Outperform Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of Haemonetics (NYSE:HAE) in a report published on Monday morning, Benzinga reports. The firm currently has a $108.00 price target on the medical instruments supplier’s stock.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC raised 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. CL King initiated coverage on shares of Haemonetics in a report on Friday, September 13th. They set a buy rating and a $116.00 target price for the company. BTIG Research initiated coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They issued a buy rating and a $112.00 price target on the stock. Citigroup cut their price target on shares of Haemonetics from $94.00 to $85.00 and set a neutral rating on the stock in a research report on Thursday, August 22nd. Finally, Bank of America assumed coverage on Haemonetics in a report on Wednesday, September 11th. They issued a neutral rating and a $85.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Haemonetics has an average rating of Moderate Buy and a consensus price target of $106.14.

Haemonetics Trading Down 0.5 %

Shares of NYSE:HAE opened at $75.08 on Monday. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.19 and a beta of 0.30. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. Haemonetics has a 12 month low of $70.74 and a 12 month high of $97.97. The company’s fifty day simple moving average is $79.62 and its 200 day simple moving average is $84.01.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). The firm had revenue of $336.17 million during 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%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, research analysts forecast that Haemonetics will post 4.57 EPS for the current fiscal year.

Insider Transactions at Haemonetics

In related news, insider Stewart W. Strong sold 4,312 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were 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 directly owns 18,196 shares in the company, valued at approximately $1,658,565.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Anila Lingamneni sold 2,136 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $90.00, for a total transaction of $192,240.00. Following the transaction, the executive vice president now directly owns 21,410 shares of the company’s stock, valued at approximately $1,926,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stewart W. Strong sold 4,312 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Haemonetics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Haemonetics during the 2nd quarter worth about $39,000. TFO Wealth Partners LLC lifted its position 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 worth $51,000 after acquiring an additional 589 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after acquiring an additional 438 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Haemonetics in the second quarter valued at approximately $82,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Haemonetics during the second quarter worth approximately $83,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.