Haemonetics Co. (NYSE:HAE) has received a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $71.33.
Several equities research analysts have issued reports on HAE shares. Zacks Investment Research downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. Barrington Research restated an “outperform” rating and set a $71.00 price objective (up from $57.00) on shares of Haemonetics in a research report on Wednesday, February 7th. Morgan Stanley raised their price objective on shares of Haemonetics from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Jefferies Group restated a “buy” rating and set a $80.00 price objective on shares of Haemonetics in a research report on Wednesday, February 7th. Finally, Raymond James Financial upgraded shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd.
In other news, Director Pedro P. Granadillo sold 7,118 shares of Haemonetics stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $57.06, for a total value of $406,153.08. Following the completion of the sale, the director now directly owns 31,663 shares in the company, valued at $1,806,690.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB acquired a new position in Haemonetics during the fourth quarter valued at approximately $308,000. MetLife Investment Advisors LLC acquired a new position in Haemonetics during the fourth quarter valued at approximately $1,391,000. Municipal Employees Retirement System of Michigan raised its position in Haemonetics by 16.7% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 23,100 shares of the medical instruments supplier’s stock valued at $1,341,000 after purchasing an additional 3,300 shares in the last quarter. Castleark Management LLC acquired a new position in Haemonetics during the fourth quarter valued at approximately $10,541,000. Finally, Meadow Creek Investment Management LLC raised its position in Haemonetics by 20.7% during the fourth quarter. Meadow Creek Investment Management LLC now owns 7,336 shares of the medical instruments supplier’s stock valued at $426,000 after purchasing an additional 1,260 shares in the last quarter. Institutional investors own 95.88% of the company’s stock.
Haemonetics (NYSE:HAE) traded up $0.74 during trading on Wednesday, reaching $69.99. The company had a trading volume of 373,336 shares, compared to its average volume of 559,257. Haemonetics has a fifty-two week low of $37.20 and a fifty-two week high of $72.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.82 and a quick ratio of 1.33. The company has a market capitalization of $3,701.24, a PE ratio of -205.85, a P/E/G ratio of 3.43 and a beta of 1.06.
Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Haemonetics had a positive return on equity of 12.39% and a negative net margin of 1.94%. The business had revenue of $234.04 million during the quarter, compared to analysts’ expectations of $227.79 million. During the same quarter last year, the company posted $0.43 earnings per share. Haemonetics’s quarterly revenue was up 2.7% on a year-over-year basis. sell-side analysts anticipate that Haemonetics will post 1.86 earnings per share for the current year.
Haemonetics announced that its board has authorized a share repurchase plan on Tuesday, February 6th that allows the company to repurchase $260.00 million in shares. This repurchase authorization allows the medical instruments supplier to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Haemonetics Company Profile
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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