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

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Barrington Research in a note issued to investors on Wednesday,Benzinga reports. They presently have a $108.00 target price on the medical instruments supplier’s stock. Barrington Research’s price target indicates a potential upside of 26.67% from the company’s current price.

A number of other equities research analysts have also recently weighed in on HAE. BTIG Research started coverage on shares of Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective on the stock. Bank of America began coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $112.00 price target on shares of Haemonetics in a report on Tuesday. CL King started coverage on shares of Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective on the stock. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Haemonetics has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Trading Down 2.5 %

NYSE:HAE opened at $85.26 on Wednesday. The company has a 50-day moving average price of $80.40 and a 200-day moving average price of $81.93. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 1.36 and a beta of 0.38. 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 has a 12 month low of $70.25 and a 12 month high of $97.97.

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 analysts’ consensus estimates of $1.09 by $0.03. The firm had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 EPS. Equities analysts predict that Haemonetics will post 4.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC increased its holdings in Haemonetics by 40.5% in the 2nd quarter. CWM LLC now owns 36,526 shares of the medical instruments supplier’s stock worth $3,022,000 after acquiring an additional 10,537 shares in the last quarter. Cardinal Capital Management boosted its position in shares of Haemonetics by 3.8% during the second quarter. Cardinal Capital Management now owns 14,832 shares of the medical instruments supplier’s stock worth $1,227,000 after acquiring an additional 549 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Haemonetics by 6.9% in the 2nd quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock valued at $333,000 after acquiring an additional 260 shares during the last quarter. SG Americas Securities LLC lifted its stake in Haemonetics by 823.1% in the 2nd quarter. SG Americas Securities LLC now owns 19,246 shares of the medical instruments supplier’s stock worth $1,592,000 after purchasing an additional 17,161 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Haemonetics by 373.7% during the second quarter. Assenagon Asset Management S.A. now owns 61,434 shares of the medical instruments supplier’s stock valued at $5,082,000 after purchasing an additional 48,464 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.