Haemonetics (NYSE:HAE) Reaches New 1-Year High – Time to Buy?

Shares of Haemonetics Corporation (NYSE:HAE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $109.72 and last traded at $108.72, with a volume of 75319 shares traded. The stock had previously closed at $106.24.

Analyst Ratings Changes

A number of analysts have weighed in on HAE shares. Wall Street Zen upgraded shares of Haemonetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. Citigroup upped their price objective on Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Mizuho raised their price objective on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average target price of $99.78.

Haemonetics Stock Performance

The firm has a market capitalization of $4.97 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 2.13 and a beta of 0.54. The company has a 50-day moving average of $92.35 and a 200-day moving average of $74.03. 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 quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 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 firm had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. During the same quarter in the previous year, the company posted $1.10 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Haemonetics Corporation will post 5.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HAE. EverSource Wealth Advisors LLC boosted its stake in Haemonetics by 12.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier’s stock valued at $108,000 after purchasing an additional 211 shares during the last quarter. Leonteq Securities AG bought a new position in Haemonetics during the 4th quarter valued at about $30,000. ProShare Advisors LLC grew its stake in shares of Haemonetics by 3.9% in the fourth quarter. ProShare Advisors LLC now owns 10,689 shares of the medical instruments supplier’s stock worth $857,000 after acquiring an additional 397 shares during the period. Expect Equity LLC grew its stake in shares of Haemonetics by 1.5% in the fourth quarter. Expect Equity LLC now owns 31,381 shares of the medical instruments supplier’s stock worth $2,515,000 after acquiring an additional 457 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Haemonetics by 133.4% in the second quarter. GAMMA Investing LLC now owns 803 shares of the medical instruments supplier’s stock worth $60,000 after purchasing an additional 459 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation is a medical technology company that develops and markets products and services for blood management. Its offerings support blood and plasma collection, blood component processing, surgical blood salvage, hemostasis testing and hospital transfusion management.

The company’s product portfolio includes automated plasma and blood component collection systems, equipment and disposables used in surgical cell salvage, and diagnostic technologies that help healthcare professionals assess coagulation and bleeding risk.