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

Shares of Haemonetics Co. (NYSE:HAE) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $106.14.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Wednesday, June 12th. CL King assumed coverage on shares of Haemonetics in a research report on Friday. They set a “buy” rating and a $116.00 price objective for the company. Barrington Research raised their price target on shares of Haemonetics from $107.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Bank of America assumed coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price target for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th.

Haemonetics Stock Up 0.8 %

Shares of NYSE HAE opened at $76.70 on Thursday. The company has a 50 day simple moving average of $81.20 and a 200-day simple moving average of $84.05. The company has a market capitalization of $3.91 billion, a P/E ratio of 33.49, a P/E/G ratio of 1.32 and a beta of 0.30. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. Haemonetics has a 1 year low of $70.74 and a 1 year high of $97.97.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). The firm had revenue of $336.17 million for the quarter, compared to analyst estimates of $335.08 million. Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 EPS. On average, equities research analysts predict that Haemonetics will post 4.58 earnings per share for the current year.

Insider Activity

In other news, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $91.15, for a total value of $393,038.80. Following the completion of the sale, the insider now directly owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $91.15, for a total value of $393,038.80. Following the transaction, the insider now owns 18,196 shares in the company, valued at approximately $1,658,565.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anila Lingamneni sold 2,136 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $90.00, for a total value of $192,240.00. Following the completion of the transaction, the executive vice president now owns 21,410 shares in the company, valued at approximately $1,926,900. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Haemonetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAE. Natixis Advisors L.P. increased its position in Haemonetics by 2.1% during the 4th quarter. Natixis Advisors L.P. now owns 15,819 shares of the medical instruments supplier’s stock worth $1,352,000 after purchasing an additional 324 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Haemonetics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 534,694 shares of the medical instruments supplier’s stock worth $45,722,000 after acquiring an additional 8,901 shares during the period. Jump Financial LLC acquired a new stake in shares of Haemonetics in the 4th quarter worth approximately $1,032,000. Dimensional Fund Advisors LP grew its holdings in shares of Haemonetics by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 826,731 shares of the medical instruments supplier’s stock worth $70,697,000 after acquiring an additional 59,670 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Haemonetics by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 203,964 shares of the medical instruments supplier’s stock worth $17,441,000 after acquiring an additional 4,604 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.