Haemonetics (NYSE:HAE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Haemonetics (NYSE:HAE) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

HAE has been the subject of several other reports. Citigroup lifted their target price on Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings upgraded shares of Haemonetics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. BTIG Research raised their price target on shares of Haemonetics from $84.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Bank of America upgraded shares of Haemonetics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $72.00 to $80.00 in a report on Friday, May 22nd. Finally, Mizuho boosted their price objective on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Haemonetics has a consensus rating of “Moderate Buy” and a consensus price target of $90.89.

Haemonetics Trading Down 1.3%

Shares of NYSE HAE opened at $86.74 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. The business’s 50 day moving average price is $77.37 and its 200-day moving average price is $66.59. Haemonetics has a fifty-two week low of $47.31 and a fifty-two week high of $88.58. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 42.52, a PEG ratio of 1.77 and a beta of 0.52.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The company had revenue of $339.38 million during the quarter, compared to analysts’ expectations of $327.86 million. During the same quarter in the previous year, the business earned $1.10 EPS. Haemonetics’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Haemonetics will post 5.21 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Haemonetics by 48.6% during the fourth quarter. AQR Capital Management LLC now owns 3,163,104 shares of the medical instruments supplier’s stock valued at $253,523,000 after buying an additional 1,034,226 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Haemonetics by 994.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock worth $110,615,000 after acquiring an additional 1,254,035 shares during the period. Dimensional Fund Advisors LP lifted its stake in Haemonetics by 21.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock worth $74,731,000 after acquiring an additional 233,119 shares during the period. North Peak Capital Management LLC grew its holdings in Haemonetics by 204.4% during the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock worth $88,405,000 after acquiring an additional 740,626 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Haemonetics by 17.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier’s stock worth $47,400,000 after acquiring an additional 124,020 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

About Haemonetics

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.