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

Haemonetics Co. (NYSE:HAE) has received an average rating of “Moderate Buy” from the four brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $107.50.

Several analysts recently weighed in on HAE shares. Barrington Research upped their price target on Haemonetics from $107.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Needham & Company LLC upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a report on Wednesday, June 12th. Citigroup lowered their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a research note on Tuesday, August 13th.

Haemonetics Price Performance

HAE opened at $76.25 on Friday. Haemonetics has a 12-month low of $70.74 and a 12-month high of $97.97. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29. The company has a current ratio of 2.56, a quick ratio of 1.50 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $84.24 and a two-hundred day simple moving average of $83.84.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). The business had revenue of $336.17 million for the quarter, compared to analysts’ expectations of $335.08 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $1.05 earnings per share. Research analysts predict that Haemonetics will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Haemonetics news, EVP Michelle L. Basil sold 12,990 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $88.08, for a total transaction of $1,144,159.20. Following the transaction, the executive vice president now owns 31,257 shares in the company, valued at approximately $2,753,116.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Stewart W. Strong sold 8,857 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total value of $775,253.21. Following the transaction, the insider now directly owns 18,196 shares in the company, valued at approximately $1,592,695.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michelle L. Basil sold 12,990 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $88.08, for a total value of $1,144,159.20. Following the sale, the executive vice president now owns 31,257 shares of the company’s stock, valued at approximately $2,753,116.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,295 shares of company stock worth $2,504,691. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Haemonetics

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its stake in shares of Haemonetics by 178.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 219,024 shares of the medical instruments supplier’s stock worth $18,120,000 after purchasing an additional 140,324 shares during the period. Quarry LP purchased a new stake in Haemonetics during the second quarter valued at approximately $39,000. Creative Planning bought a new position in Haemonetics in the second quarter worth approximately $368,000. The Manufacturers Life Insurance Company boosted its stake in shares of Haemonetics by 327.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock worth $25,445,000 after acquiring an additional 235,535 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Haemonetics during the 2nd quarter valued at $499,000. 99.67% of the stock is currently owned by institutional investors.

Haemonetics Company Profile

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.