Haemonetics Corporation (NYSE:HAE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Haemonetics Corporation (NYSE:HAE) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $99.7778.

A number of research firms have recently weighed in on HAE. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. Citigroup lifted their target price on shares of Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Robert W. Baird upped their price target on shares of Haemonetics from $96.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, August 21st. Barrington Research increased their price target on shares of Haemonetics from $95.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th.

Institutional Trading of Haemonetics

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its stake in shares of Haemonetics by 7,550.6% in the second quarter. California State Teachers Retirement System now owns 4,024,650 shares of the medical instruments supplier’s stock worth $301,849,000 after purchasing an additional 3,972,044 shares during the last quarter. AQR Capital Management LLC raised its position in Haemonetics by 372.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier’s stock valued at $102,814,000 after purchasing an additional 1,678,630 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Haemonetics by 994.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock worth $110,615,000 after buying an additional 1,254,035 shares during the period. Millennium Management LLC lifted its holdings in Haemonetics by 4,296.3% in the 3rd quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier’s stock worth $37,685,000 after buying an additional 755,592 shares during the period. Finally, North Peak Capital Management LLC grew its position in shares of Haemonetics by 204.4% in the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier’s stock worth $88,405,000 after buying an additional 740,626 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Trading Down 0.0%

NYSE HAE opened at $102.66 on Monday. Haemonetics has a 1-year low of $47.31 and a 1-year high of $109.57. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average of $90.46 and a 200-day moving average of $73.10. The firm has a market cap of $4.67 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 2.06 and a beta of 0.54.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $327.86 million. During the same period in the prior year, the business posted $1.10 EPS. Haemonetics’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Haemonetics will post 5.29 EPS for the current year.

Haemonetics Company Profile

Haemonetics Corporation is a medical technology company that develops and markets products and services for blood management. Its offerings support blood and plasma collection, blood component processing, surgical blood salvage, hemostasis testing and hospital transfusion management.

The company’s product portfolio includes automated plasma and blood component collection systems, equipment and disposables used in surgical cell salvage, and diagnostic technologies that help healthcare professionals assess coagulation and bleeding risk.