Haemonetics Corporation (NYSE:HAE) Stock Has Consensus Target Price of $99.78 According to Brokerages

Shares of Haemonetics Corporation (NYSE:HAE) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Four equities 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 12 month price target among brokerages that have issued ratings on the stock in the last year is $99.78.

HAE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Haemonetics from $62.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. BTIG Research raised their target price on Haemonetics from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Citigroup lifted their price target on Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Robert W. Baird boosted their price target on Haemonetics from $96.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Finally, Mizuho increased their price objective on Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th.

Haemonetics Stock Performance

Shares of HAE opened at $103.72 on Friday. 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 firm has a market cap of $4.72 billion, a PE ratio of 50.85, a P/E/G ratio of 2.10 and a beta of 0.61. Haemonetics has a 12 month low of $48.17 and a 12 month high of $110.45. The stock has a fifty day moving average price of $100.31 and a 200-day moving average price of $78.37.

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, topping 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 firm had revenue of $339.38 million for the quarter, compared to the consensus estimate of $327.86 million. During the same period in the previous year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts predict that Haemonetics will post 5.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

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

Haemonetics Company Profile

Haemonetics Corporation (NYSE: HAE) is a medical technology company that develops and supplies products and software for blood management. Its solutions are used to collect, process, manage and analyze blood and blood components, helping healthcare providers and blood and plasma collection organizations improve the availability, safety and efficiency of transfusion-related care.

The company’s portfolio includes plasma and blood component collection systems, disposable collection and processing kits, surgical blood recovery and autotransfusion systems, and technologies used to assess coagulation and hemostasis.