Haemonetics Corporation (NYSE:HAE) Receives $90.89 Average Target Price from Analysts

Haemonetics Corporation (NYSE:HAE) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $90.8889.

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Raymond James Financial restated an “outperform” rating and issued a $105.00 price objective on shares of Haemonetics in a report on Friday, August 7th. Citigroup upped their target price on shares of Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Bank of America raised shares of Haemonetics from a “neutral” rating to a “buy” rating and raised their price target for the company from $72.00 to $80.00 in a research report on Friday, May 22nd. Finally, Mizuho raised their price target 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new position in Haemonetics during the 4th quarter worth $26,000. Leonteq Securities AG acquired a new stake in Haemonetics in the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC raised its position in Haemonetics by 2,640.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock valued at $31,000 after purchasing an additional 396 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Haemonetics in the 4th quarter valued at about $34,000. Finally, Kelleher Financial Advisors purchased a new position in shares of Haemonetics in the 2nd quarter valued at about $38,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Price Performance

HAE opened at $90.86 on Thursday. The stock’s 50-day moving average price is $79.09 and its 200 day moving average price is $67.18. Haemonetics has a 12-month low of $47.31 and a 12-month high of $92.25. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 44.54, a PEG ratio of 1.82 and a beta of 0.52. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.Haemonetics’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. As a group, sell-side analysts expect that Haemonetics will post 5.28 earnings per share for the current year.

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.