Haemonetics (NYSE:HAE) Reaches New 52-Week High – Should You Buy?

Haemonetics Corporation (NYSE:HAE) shares hit a new 52-week high during trading on Wednesday. The company traded as high as $125.38 and last traded at $124.78, with a volume of 42,324 shares. The stock had previously closed at $120.28.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Haemonetics from $96.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, August 21st. Mizuho increased their target price on Haemonetics from $95.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Weiss Ratings raised Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Citigroup raised their target price on Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, BTIG Research boosted their price target on Haemonetics from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Haemonetics Stock Up 4.4%

The firm has a fifty day moving average price of $110.48 and a 200 day moving average price of $79.28. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $5.72 billion, a P/E ratio of 61.50, a PEG ratio of 2.40 and a beta of 0.63.

Haemonetics (NYSE:HAE) last announced 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. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%. The company had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. During the same period last year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Haemonetics Corporation will post 5.29 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nierenberg Investment Management Company LLC bought a new position in shares of Haemonetics in the second quarter worth about $1,971,000. Rice Hall James & Associates LLC acquired a new position in shares of Haemonetics during the second quarter worth approximately $3,828,000. Renaissance Technologies LLC bought a new stake in shares of Haemonetics during the first quarter valued at approximately $2,435,000. Quantinno Capital Management LP grew its stake in shares of Haemonetics by 438.0% during the first quarter. Quantinno Capital Management LP now owns 30,708 shares of the medical instruments supplier’s stock valued at $1,731,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Aurora Investment Counsel bought a new stake in shares of Haemonetics during the second quarter valued at approximately $1,913,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.