BTIG Research Reaffirms “Buy” Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $84.00 price objective on the medical instruments supplier’s stock. BTIG Research’s target price indicates a potential upside of 8.98% from the company’s current price.

HAE has been the subject of several other research reports. Wall Street Zen upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Haemonetics from $74.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Mizuho raised their price objective on shares of Haemonetics from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Citigroup boosted their target price on Haemonetics from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Finally, Robert W. Baird set a $67.00 target price on Haemonetics in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and an average target price of $78.33.

Haemonetics Trading Up 5.8%

Shares of NYSE HAE opened at $77.08 on Friday. Haemonetics has a 1-year low of $47.31 and a 1-year high of $87.32. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.95 and a quick ratio of 1.87. The business’s 50 day moving average is $65.10 and its two-hundred day moving average is $66.80. The stock has a market capitalization of $3.50 billion, a P/E ratio of 38.16, a PEG ratio of 1.47 and a beta of 0.56.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $346.35 million for the quarter, compared to the consensus estimate of $336.83 million. Haemonetics had a return on equity of 27.30% and a net margin of 7.29%.The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. As a group, research analysts expect that Haemonetics will post 5.22 EPS for the current year.

Institutional Investors Weigh In On Haemonetics

Large investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Haemonetics in the fourth quarter valued at about $26,000. True Wealth Design LLC increased its position in Haemonetics by 6,700.0% during the 4th quarter. True Wealth Design LLC now owns 340 shares of the medical instruments supplier’s stock valued at $27,000 after buying an additional 335 shares in the last quarter. Leonteq Securities AG purchased a new stake in Haemonetics in the fourth quarter valued at about $30,000. EverSource Wealth Advisors LLC grew its position in Haemonetics by 2,640.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 396 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Haemonetics during the fourth quarter valued at $34,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Company Profile

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.