Haemonetics (NYSE:HAE) Shares Gap Up – Still a Buy?

Haemonetics Co. (NYSE:HAE)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $78.16, but opened at $84.00. Haemonetics shares last traded at $84.50, with a volume of 226,352 shares traded.

Analyst Upgrades and Downgrades

HAE has been the topic of a number of analyst reports. Barrington Research reiterated an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a research report on Monday, September 23rd. BTIG Research assumed coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Haemonetics in a research report on Tuesday, August 13th. Bank of America began coverage on Haemonetics in a report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 target price on the stock. Finally, CL King started coverage on Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $106.14.

Haemonetics Trading Up 9.9 %

The business has a 50-day moving average of $75.42 and a 200-day moving average of $82.60. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 1.15 and a beta of 0.32.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). The firm had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. Research analysts anticipate that Haemonetics Co. will post 4.57 EPS for the current year.

Hedge Funds Weigh In On Haemonetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Haemonetics during the 2nd quarter worth about $39,000. Covestor Ltd grew its position in shares of Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 438 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Haemonetics during the second quarter worth approximately $82,000. Canada Pension Plan Investment Board acquired a new stake in Haemonetics during the 2nd quarter worth approximately $83,000. Finally, EntryPoint Capital LLC bought a new stake in Haemonetics in the 1st quarter valued at $86,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.