Haemonetics (NYSE:HAE) Price Target Cut to $86.00 by Analysts at Barrington Research

Key Points

• Barrington Research has lowered its price target for Haemonetics from $95.00 to $86.00, while maintaining an "outperform" rating on the stock.
• Haemonetics reported a quarterly earnings per share (EPS) of $1.10, surpassing the consensus estimate but showing a 4.4% year-over-year revenue decline.
• Institutional investors have significantly increased their stakes in Haemonetics, with Citigroup Inc. raising its position by 87.3% in the first quarter.

Haemonetics (NYSE:HAE - Get Free Report) had its price objective lowered by equities research analysts at Barrington Research from $95.00 to $86.00 in a report issued on Friday, Marketbeat Ratings reports. The firm currently has an "outperform" rating on the medical instruments supplier's stock. Barrington Research's target price indicates a potential upside of 64.97% from the stock's previous close.

A number of other analysts also recently issued reports on the company. Baird R W raised Haemonetics to a "strong-buy" rating in a research note on Wednesday, June 25th. Wall Street Zen downgraded Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $105.00 target price (down from $115.00) on shares of Haemonetics in a research note on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $100.00 target price on shares of Haemonetics in a research note on Tuesday, May 20th. Finally, Citigroup raised Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.18.

Haemonetics Price Performance

HAE stock traded down $0.34 during midday trading on Friday, reaching $52.13. The stock had a trading volume of 788,249 shares, compared to its average volume of 786,956. The company's fifty day simple moving average is $72.56 and its 200 day simple moving average is $67.23. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.88 and a beta of 0.40. Haemonetics has a 52-week low of $50.68 and a 52-week high of $94.99.

Haemonetics (NYSE:HAE - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.09. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%. The business had revenue of $321.39 million during the quarter, compared to the consensus estimate of $305.12 million. During the same period last year, the company earned $1.02 EPS. The company's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Hedge funds and other institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. purchased a new position in Haemonetics during the 4th quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in Haemonetics by 59.4% during the 2nd quarter. GAMMA Investing LLC now owns 443 shares of the medical instruments supplier's stock valued at $33,000 after acquiring an additional 165 shares during the period. Quarry LP boosted its holdings in Haemonetics by 63.4% during the 1st quarter. Quarry LP now owns 495 shares of the medical instruments supplier's stock valued at $31,000 after acquiring an additional 192 shares during the period. UMB Bank n.a. boosted its holdings in Haemonetics by 91.7% during the 2nd quarter. UMB Bank n.a. now owns 669 shares of the medical instruments supplier's stock valued at $50,000 after acquiring an additional 320 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Haemonetics by 146.8% in the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock valued at $58,000 after buying an additional 439 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Company Profile

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.