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

Key Points

• Haemonetics received a “Moderate Buy” consensus rating from 11 analysts, with six buy ratings, one strong-buy rating and four holds. The average 12-month price target is approximately $99.78.
• Recent analyst actions were generally positive, including upgraded or increased targets from Raymond James, Bank of America and Robert W. Baird; Raymond James set the highest cited target at $125.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in earnings per share versus a $1.08 estimate and revenue of $339.38 million versus $327.86 million. Institutional investors own approximately 99.67% of the company’s shares.

Haemonetics Corporation (NYSE:HAE - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $99.7778.

HAE has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Haemonetics from $62.00 to $86.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Raymond James Financial lifted their target price on Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday. Bank of America raised shares of Haemonetics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $72.00 to $80.00 in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, Robert W. Baird raised their price objective on shares of Haemonetics from $96.00 to $119.00 and gave the stock an "outperform" rating in a report on Friday, August 21st.

Institutional Investors Weigh In On Haemonetics

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Haemonetics by 3.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,541 shares of the medical instruments supplier's stock valued at $1,877,000 after purchasing an additional 971 shares during the period. Caxton Associates LLP bought a new stake in shares of Haemonetics in the first quarter valued at $216,000. United Services Automobile Association bought a new stake in shares of Haemonetics in the first quarter valued at $212,000. Empowered Funds LLC lifted its position in shares of Haemonetics by 9.1% during the 1st quarter. Empowered Funds LLC now owns 4,458 shares of the medical instruments supplier's stock valued at $283,000 after buying an additional 372 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Haemonetics by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,138 shares of the medical instruments supplier's stock valued at $9,923,000 after buying an additional 9,051 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Haemonetics Trading Up 0.1%

NYSE:HAE opened at $103.00 on Monday. Haemonetics has a 52 week low of $47.31 and a 52 week high of $109.57. The firm has a 50-day moving average price of $87.71 and a two-hundred day moving average price of $71.62. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 2.06 and a beta of 0.54.

Haemonetics (NYSE:HAE - Get Free Report) last announced its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. The firm had revenue of $339.38 million for the quarter, compared to the consensus estimate of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The company's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. On average, equities analysts expect that Haemonetics will post 5.29 earnings per share for the current fiscal year.

Haemonetics Company Profile

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company's offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company's product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.

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