Haemonetics Co. (NYSE:HAE) Given Average Rating of “Moderate Buy” by Brokerages

Haemonetics Co. (NYSE:HAE) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $106.14.

Several brokerages have recently weighed in on HAE. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Barrington Research reiterated an “outperform” rating and set a $108.00 target price on shares of Haemonetics in a research note on Monday, September 23rd. BTIG Research began coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. Citigroup reduced their price objective on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, CL King began coverage on shares of Haemonetics in a research report on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in Haemonetics by 2.3% in the first quarter. Capital Research Global Investors now owns 6,674,751 shares of the medical instruments supplier’s stock valued at $569,690,000 after buying an additional 151,183 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Haemonetics by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock valued at $80,972,000 after buying an additional 57,665 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Haemonetics by 6,573.6% in the second quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock valued at $70,267,000 after buying an additional 836,623 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Haemonetics by 13.8% in the third quarter. Boston Trust Walden Corp now owns 809,608 shares of the medical instruments supplier’s stock valued at $65,076,000 after buying an additional 98,019 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Haemonetics by 75.9% in 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 buying an additional 343,214 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Price Performance

Shares of HAE opened at $71.15 on Friday. Haemonetics has a fifty-two week low of $70.25 and a fifty-two week high of $97.97. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 1.16 and a beta of 0.30. The firm has a 50-day simple moving average of $75.55 and a 200-day simple moving average of $82.86. 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 earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share 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 for the quarter, compared to analyst estimates of $335.08 million. During the same quarter last year, the company posted $1.05 EPS. Haemonetics’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that Haemonetics will post 4.57 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.