Barrington Research Reaffirms Outperform Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reaffirmed by analysts at Barrington Research in a research note issued on Friday,Benzinga reports. They currently have a $108.00 price target on the medical instruments supplier’s stock. Barrington Research’s price objective suggests a potential upside of 23.54% from the stock’s current price.

Other equities research analysts have also issued reports about the company. BTIG Research initiated coverage on Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price for the company. Citigroup reduced their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research note on Friday. 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. Finally, Bank of America began coverage on Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Haemonetics currently has a consensus rating of “Moderate Buy” and an average price target of $107.88.

Haemonetics Stock Up 1.0 %

Shares of HAE stock traded up $0.89 on Friday, reaching $87.42. 1,161,915 shares of the stock were exchanged, compared to its average volume of 546,918. Haemonetics has a twelve month low of $70.25 and a twelve month high of $97.97. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 1.22 and a beta of 0.32. The company has a current ratio of 3.76, a quick ratio of 2.33 and a debt-to-equity ratio of 1.35. The business’s 50 day moving average price is $75.88 and its 200 day moving average price is $82.65.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data 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 net margin of 8.61% and a return on equity of 21.86%. The business had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. During the same period in the prior year, the firm posted $0.99 EPS. The company’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Haemonetics will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

Several large investors have recently added to or reduced their stakes in HAE. Quarry LP bought a new stake in shares of Haemonetics in the 2nd quarter valued at approximately $39,000. Covestor Ltd grew 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 valued at $58,000 after buying an additional 438 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Haemonetics during the second quarter worth approximately $82,000. Canada Pension Plan Investment Board acquired a new stake in Haemonetics during the second quarter valued at $83,000. Finally, EntryPoint Capital LLC bought a new stake in Haemonetics in the first quarter worth $86,000. 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.