Citigroup Lowers Haemonetics (NYSE:HAE) Price Target to $64.00

Key Points

• Citigroup has reduced its price target for Haemonetics (NYSE:HAE) to $64.00 from $78.00, while maintaining a "buy" rating, indicating a potential upside of 28.63% from the current price.
• Other analysts have mixed views, with some like Barrington Research setting a target of $86.00, while JPMorgan has lowered their target to $62.00.
• Haemonetics reported a quarterly EPS of $1.10, surpassing estimates and revealing a revenue of $321.39 million, though it was a 4.4% decrease compared to the same quarter last year.

Haemonetics (NYSE:HAE - Get Free Report) had its price objective dropped by research analysts at Citigroup from $78.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the medical instruments supplier's stock. Citigroup's price target would suggest a potential upside of 28.63% from the company's current price.

Several other analysts have also issued reports on the company. Barrington Research reaffirmed an "outperform" rating and issued a $86.00 target price on shares of Haemonetics in a research note on Tuesday, September 23rd. Weiss Ratings reissued a "hold (c-)" rating on shares of Haemonetics in a research note on Saturday, September 27th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $62.00 price objective (down previously from $85.00) on shares of Haemonetics in a report on Friday, August 8th. Raymond James Financial cut shares of Haemonetics from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $105.00 to $78.00 in a research report on Monday, August 11th. Finally, Mizuho reduced their target price on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.89.

Haemonetics Price Performance

NYSE HAE traded up $0.21 during trading on Tuesday, reaching $49.76. The company's stock had a trading volume of 190,829 shares, compared to its average volume of 839,617. Haemonetics has a one year low of $47.31 and a one year high of $94.99. The stock has a market capitalization of $2.40 billion, a PE ratio of 15.23, a P/E/G ratio of 0.93 and a beta of 0.37. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.04. The firm has a fifty day moving average of $55.68 and a 200 day moving average of $63.57.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.09. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The firm had revenue of $321.39 million for the quarter, compared to analyst estimates of $305.12 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. Analysts expect that Haemonetics will post 4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its holdings in Haemonetics by 63.4% in the 1st quarter. Quarry LP now owns 495 shares of the medical instruments supplier's stock worth $31,000 after buying an additional 192 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Haemonetics by 2,640.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier's stock valued at $31,000 after buying an additional 396 shares during the period. GAMMA Investing LLC grew its holdings in shares of Haemonetics by 59.4% in the second quarter. GAMMA Investing LLC now owns 443 shares of the medical instruments supplier's stock worth $33,000 after acquiring an additional 165 shares during the period. UMB Bank n.a. increased its position in Haemonetics by 91.7% during the second 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 last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in Haemonetics in the second quarter worth about $64,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

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