Haemonetics (NYSE:HAE) Earns “Strong-Buy” Rating from Raymond James

Haemonetics (NYSE:HAE)‘s stock had its “strong-buy” rating reissued by investment analysts at Raymond James in a note issued to investors on Friday,Benzinga reports. They currently have a $105.00 price objective on the medical instruments supplier’s stock, down from their previous price objective of $115.00. Raymond James’ price target points to a potential upside of 53.94% from the stock’s current price.

Several other equities research analysts have also recently weighed in on HAE. Barrington Research cut their price objective on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. JMP Securities decreased their price objective on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday, February 7th. StockNews.com upgraded Haemonetics from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Needham & Company LLC decreased their price target on Haemonetics from $104.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $95.00 to $68.00 in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.89.

Haemonetics Price Performance

Shares of Haemonetics stock opened at $68.21 on Friday. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.11 and a beta of 0.32. Haemonetics has a twelve month low of $55.30 and a twelve month high of $97.97. The company has a 50-day simple moving average of $62.75 and a two-hundred day simple moving average of $71.39.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The business had revenue of $330.60 million during the quarter, compared to analysts’ expectations of $329.38 million. During the same period in the previous year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts forecast that Haemonetics will post 4.55 EPS for the current year.

Institutional Trading of Haemonetics

Institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. bought a new stake in shares of Haemonetics in the 4th quarter valued at about $25,000. Covestor Ltd raised its holdings in Haemonetics by 146.8% during the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 439 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Haemonetics in the 4th quarter worth approximately $62,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Haemonetics during the first quarter worth $65,000. Finally, Parkside Financial Bank & Trust raised its stake in Haemonetics by 25.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after buying an additional 240 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.