Haemonetics Co. (NYSE:HAE) Receives $104.50 Average PT from Analysts

Shares of Haemonetics Co. (NYSE:HAE) have received an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $106.14.

Several analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Haemonetics in a report on Wednesday. They set a “neutral” rating and a $85.00 price objective for the company. Citigroup decreased their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. CL King assumed coverage on shares of Haemonetics in a research note on Friday. They set a “buy” rating and a $116.00 price target on the stock. Barrington Research increased their price target on shares of Haemonetics from $107.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, BTIG Research assumed coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target on the stock.

Insider Buying and Selling at Haemonetics

In other news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction on Thursday, July 11th. The shares were 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 $1,926,900. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction on Thursday, July 11th. The shares were 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 $1,926,900. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stewart W. Strong sold 4,312 shares of Haemonetics 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 transaction, the insider now directly owns 18,196 shares in the company, 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 Investors Weigh In On Haemonetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its holdings in shares of Haemonetics by 3.3% during the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock worth $304,000 after acquiring an additional 117 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Haemonetics by 6.9% during the second quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock worth $333,000 after acquiring an additional 260 shares during the period. Arizona State Retirement System increased its stake in Haemonetics by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier’s stock valued at $1,176,000 after buying an additional 272 shares during the last quarter. State of Michigan Retirement System increased its stake in Haemonetics by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 12,474 shares of the medical instruments supplier’s stock valued at $1,065,000 after buying an additional 300 shares during the last quarter. Finally, Natixis Advisors L.P. increased its stake in Haemonetics by 2.1% in the 4th quarter. Natixis Advisors L.P. now owns 15,819 shares of the medical instruments supplier’s stock valued at $1,352,000 after buying an additional 324 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Stock Up 3.9 %

Shares of HAE opened at $76.09 on Thursday. Haemonetics has a 52 week low of $70.74 and a 52 week high of $97.97. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. The firm has a market capitalization of $3.89 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.32 and a beta of 0.30. The company has a 50-day simple moving average of $81.38 and a 200-day simple moving average of $83.96.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results 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). Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The business had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. During the same period last year, the company earned $1.05 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Haemonetics will post 4.58 earnings per share for the current year.

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.