Haemonetics (NYSE:HAE) Stock Price Up 7.5% – Here’s Why

Haemonetics Corporation (NYSE:HAE) shares rose 7.5% on Tuesday . The stock traded as high as $80.48 and last traded at $80.5250. Approximately 402,634 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 850,927 shares. The stock had previously closed at $74.88.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $72.00 to $80.00 in a research report on Friday, May 22nd. Barrington Research lowered their price objective on Haemonetics from $94.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Citigroup boosted their target price on Haemonetics from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Robert W. Baird set a $67.00 price target on Haemonetics in a research note on Friday, May 8th. Finally, Mizuho lowered their price target on Haemonetics from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Haemonetics Stock Up 5.8%

The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 39.24, a P/E/G ratio of 1.43 and a beta of 0.55. The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. The company’s 50 day moving average price is $60.39 and its 200 day moving average price is $67.22.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Haemonetics had a return on equity of 27.30% and a net margin of 7.29%.The firm had revenue of $346.35 million for the quarter, compared to the consensus estimate of $336.83 million. During the same period in the prior year, the firm earned $1.24 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. As a group, research analysts forecast that Haemonetics Corporation will post 5.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Haemonetics by 3.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,541 shares of the medical instruments supplier’s stock worth $1,877,000 after buying an additional 971 shares during the period. Caxton Associates LLP acquired a new stake in Haemonetics during the 1st quarter valued at approximately $216,000. United Services Automobile Association purchased a new stake in shares of Haemonetics in the 1st quarter valued at $212,000. Empowered Funds LLC increased its stake in shares of Haemonetics by 9.1% in the first quarter. Empowered Funds LLC now owns 4,458 shares of the medical instruments supplier’s stock worth $283,000 after acquiring an additional 372 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Haemonetics by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,138 shares of the medical instruments supplier’s stock worth $9,923,000 after acquiring an additional 9,051 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Company Profile

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.