Haemonetics Co. (NYSE:HAE) Receives Average Recommendation of “Moderate Buy” from Analysts

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

HAE has been the topic of a number of recent research reports. BTIG Research initiated coverage on Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target on the stock. CL King assumed coverage on Haemonetics in a research note on Friday, September 13th. They set a “buy” rating and a $116.00 price target on the stock. Citigroup cut their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $112.00 price target on shares of Haemonetics in a research note on Friday, November 15th. Finally, Barrington Research reissued an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings 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 worth $70,267,000 after acquiring an additional 836,623 shares during the period. FMR LLC lifted its position in shares of Haemonetics by 206.3% in the 3rd 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 during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after buying an additional 363,702 shares during the period. Mizuho Markets Americas LLC acquired a new position in Haemonetics in the second quarter valued at approximately $30,080,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Haemonetics by 75.9% during 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 purchasing an additional 343,214 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Price Performance

Haemonetics stock opened at $87.48 on Tuesday. The firm has a market capitalization of $4.39 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 1.36 and a beta of 0.32. Haemonetics has a 12-month low of $70.25 and a 12-month high of $97.97. The firm has a 50-day moving average price of $80.21 and a 200-day moving average price of $82.00. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $342.57 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Haemonetics will post 4.59 EPS for the current 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.