Haemonetics Corporation (NYSE:HAE) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Haemonetics Corporation (NYSE:HAE) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $110.00.

HAE has been the topic of several recent analyst reports. Weiss Ratings upgraded Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Robert W. Baird lifted their price objective on shares of Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Barrington Research upped their target price on shares of Haemonetics from $118.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, October 9th. BTIG Research increased their target price on shares of Haemonetics from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Finally, Mizuho raised their price target on shares of Haemonetics from $95.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, October 9th.

Institutional Investors Weigh In On Haemonetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Haemonetics by 21.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock worth $74,731,000 after buying an additional 233,119 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Haemonetics by 1,191.9% during the third quarter. Assenagon Asset Management S.A. now owns 453,579 shares of the medical instruments supplier’s stock valued at $47,762,000 after acquiring an additional 418,470 shares during the last quarter. Bank of America Corp DE bought a new stake in Haemonetics during the second quarter worth $33,326,000. William Blair Investment Management LLC bought a new stake in Haemonetics during the second quarter worth $24,906,000. Finally, Bank of New York Mellon Corp bought a new stake in Haemonetics during the second quarter worth $21,566,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Stock Performance

Shares of Haemonetics stock opened at $120.15 on Tuesday. The company has a market cap of $5.47 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.37 and a beta of 0.61. Haemonetics has a 52 week low of $49.24 and a 52 week high of $123.77. The business has a 50 day moving average price of $110.24 and a 200-day moving average price of $79.06. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share. Equities analysts anticipate that Haemonetics will post 5.29 earnings per share for the current fiscal year.

Haemonetics Company Profile

Haemonetics Corporation (NYSE: HAE) is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company’s offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.