Haemonetics (NYSE:HAE) Price Target Raised to $107.00

Haemonetics (NYSE:HAE) had its target price boosted by investment analysts at Barrington Research from $105.00 to $107.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price target points to a potential upside of 13.08% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Haemonetics in a research note on Friday. TheStreet downgraded shares of Haemonetics from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. Finally, StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.33.

Haemonetics Trading Up 2.2 %

HAE traded up $2.02 on Friday, reaching $94.62. 47,687 shares of the company traded hands, compared to its average volume of 459,045. Haemonetics has a one year low of $70.74 and a one year high of $97.13. The firm has a fifty day simple moving average of $83.98 and a two-hundred day simple moving average of $82.88. The company has a market cap of $4.81 billion, a P/E ratio of 38.59, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34. The company has a quick ratio of 1.76, a current ratio of 2.92 and a debt-to-equity ratio of 0.91.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $343.00 million during the quarter, compared to analyst estimates of $329.53 million. Haemonetics had a net margin of 9.97% and a return on equity of 22.37%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. As a group, equities research analysts expect that Haemonetics will post 3.95 earnings per share for the current year.

Insider Activity at Haemonetics

In other Haemonetics news, EVP Anila Lingamneni sold 2,305 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $95.00, for a total transaction of $218,975.00. Following the completion of the transaction, the executive vice president now owns 12,295 shares of the company’s stock, valued at $1,168,025. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Knights of Columbus Asset Advisors LLC raised its holdings in Haemonetics by 1.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 10,005 shares of the medical instruments supplier’s stock valued at $896,000 after acquiring an additional 128 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Haemonetics by 17.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock worth $90,000 after purchasing an additional 156 shares in the last quarter. Riverwater Partners LLC raised its stake in shares of Haemonetics by 1.5% during the 4th quarter. Riverwater Partners LLC now owns 15,784 shares of the medical instruments supplier’s stock worth $1,350,000 after buying an additional 231 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Haemonetics by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 14,407 shares of the medical instruments supplier’s stock worth $1,291,000 after buying an additional 237 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in shares of Haemonetics by 7.4% during the 4th quarter. Contravisory Investment Management Inc. now owns 3,507 shares of the medical instruments supplier’s stock worth $300,000 after buying an additional 242 shares during the last quarter. Hedge funds and other institutional investors 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 intravenous 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.