Haemonetics (NYSE:HAE) Shares Up 3.5% – Should You Buy?

Shares of Haemonetics Co. (NYSE:HAE) were up 3.5% on Monday . The company traded as high as $64.98 and last traded at $65.20. Approximately 75,392 shares traded hands during trading, a decline of 92% from the average daily volume of 1,001,748 shares. The stock had previously closed at $63.02.

Analyst Ratings Changes

Several equities research analysts have issued reports on HAE shares. StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Needham & Company LLC dropped their price objective on Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a report on Friday, February 7th. JMP Securities reduced their target price on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a report on Friday, February 7th. Barrington Research reduced their price objective on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Raymond James restated a “strong-buy” rating and issued a $115.00 target price (down from $120.00) on shares of Haemonetics in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Haemonetics has a consensus rating of “Moderate Buy” and an average price target of $101.67.

Haemonetics Price Performance

The business’s fifty day simple moving average is $72.24 and its 200 day simple moving average is $76.37. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.11 and a beta of 0.39. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. On average, research analysts forecast that Haemonetics Co. will post 4.55 EPS for the current year.

Institutional Trading of Haemonetics

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after buying an additional 363,702 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Haemonetics by 14.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier’s stock worth $98,716,000 after acquiring an additional 164,111 shares during the period. Royce & Associates LP boosted its position in Haemonetics by 2.6% in the third quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier’s stock worth $97,304,000 after purchasing an additional 30,868 shares during the last quarter. Geode Capital Management LLC grew its stake in Haemonetics by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock valued at $95,986,000 after purchasing an additional 21,547 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Haemonetics by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier’s stock valued at $77,470,000 after purchasing an additional 10,990 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

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.