Haemonetics Co. (NYSE:HAE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Haemonetics Co. (NYSE:HAE) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $106.14.

HAE has been the topic of a number of recent research reports. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. BTIG Research initiated coverage on Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price on the stock. CL King initiated coverage on Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Bank of America initiated coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, Citigroup lowered their target price on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd.

Insider Buying and Selling

In related news, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Haemonetics

Several large investors have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in Haemonetics by 19.7% in the 3rd quarter. Inspire Investing LLC now owns 5,130 shares of the medical instruments supplier’s stock valued at $412,000 after acquiring an additional 845 shares in the last quarter. West Coast Financial LLC grew its stake in shares of Haemonetics by 2.2% in the 3rd quarter. West Coast Financial LLC now owns 47,182 shares of the medical instruments supplier’s stock valued at $3,792,000 after purchasing an additional 1,013 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of Haemonetics by 10.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 20,154 shares of the medical instruments supplier’s stock valued at $1,620,000 after purchasing an additional 1,848 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Haemonetics by 23.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,095 shares of the medical instruments supplier’s stock valued at $1,374,000 after purchasing an additional 3,300 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in shares of Haemonetics by 31.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,765 shares of the medical instruments supplier’s stock valued at $222,000 after purchasing an additional 656 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Stock Performance

Shares of HAE stock opened at $74.97 on Monday. Haemonetics has a 1-year low of $70.74 and a 1-year high of $97.97. The company has a current ratio of 3.76, a quick ratio of 2.33 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.19 and a beta of 0.30. The stock’s fifty day simple moving average is $76.63 and its 200-day simple moving average is $83.92.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The business had revenue of $336.17 million for the quarter, compared to analysts’ expectations of $335.08 million. During the same quarter in the prior year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Haemonetics will post 4.57 earnings per share for the current fiscal year.

About Haemonetics

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 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 app.