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

Shares of Haemonetics Co. (NYSE:HAE) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $108.78.

HAE has been the topic of a number of recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a research note on Wednesday, December 4th. Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on Haemonetics in a research report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $112.00 target price on shares of Haemonetics in a research report on Tuesday, December 3rd.

Hedge Funds Weigh In On Haemonetics

Several hedge funds and other institutional investors have recently modified their holdings of HAE. Thrivent Financial for Lutherans grew its stake in shares of Haemonetics by 6,573.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock valued at $70,267,000 after purchasing an additional 836,623 shares during the period. FMR LLC raised its position in shares of Haemonetics by 206.3% during the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock valued at $62,257,000 after purchasing an additional 521,640 shares during the period. Wellington Management Group LLP boosted its holdings in 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 worth $337,722,000 after buying an additional 363,702 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Haemonetics by 75.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after buying an additional 343,214 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Haemonetics by 327.0% during the second quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock worth $25,445,000 after purchasing an additional 235,535 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Haemonetics Trading Up 0.1 %

HAE opened at $73.63 on Wednesday. The firm has a 50 day simple moving average of $82.07 and a 200 day simple moving average of $80.24. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. Haemonetics has a fifty-two week low of $69.29 and a fifty-two week high of $97.97. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.19 and a beta of 0.41.

Haemonetics (NYSE:HAE) last posted its earnings results 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. The company had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. On average, sell-side analysts anticipate that Haemonetics will post 4.59 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.