Haemonetics Corporation (NYSE:HAE) Stock Has Average Price Target of $99.78

Key Points

• Analysts maintain a Moderate Buy consensus on Haemonetics, with six buys, four holds and one strong buy among 11 covering brokerages. The average 12-month price target is $99.78, although several firms recently raised their targets.
• Haemonetics reported quarterly EPS of $1.14, exceeding the $1.08 consensus estimate, while revenue of $339.38 million also topped expectations and increased 5.5% year over year.
• The stock opened at $104.39 and has risen substantially from its 12-month low of $47.74, with a market capitalization of about $4.75 billion. Institutional investors and hedge funds own approximately 99.67% of the shares.

Shares of Haemonetics Corporation (NYSE:HAE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $99.78.

Several brokerages have recently issued reports on HAE. Raymond James Financial raised their price objective on shares of Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Barrington Research raised their price target on shares of Haemonetics from $95.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Haemonetics from $62.00 to $86.00 and gave the stock a "neutral" rating in a report on Friday, August 7th.

Haemonetics Price Performance

NYSE HAE opened at $104.39 on Friday. The stock has a 50-day simple moving average of $98.87 and a 200 day simple moving average of $77.42. Haemonetics has a twelve month low of $47.74 and a twelve month high of $110.45. The stock has a market capitalization of $4.75 billion, a PE ratio of 51.17, a P/E/G ratio of 2.11 and a beta of 0.61. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. The firm had revenue of $339.38 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. Research analysts anticipate that Haemonetics will post 5.29 EPS for the current year.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised 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 valued at $110,615,000 after acquiring an additional 1,254,035 shares in the last quarter. North Peak Capital Management LLC grew its holdings in shares of Haemonetics by 204.4% during 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 purchasing an additional 740,626 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Haemonetics by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier's stock valued at $74,731,000 after purchasing an additional 233,119 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in shares of Haemonetics by 17.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier's stock valued at $47,400,000 after purchasing an additional 124,020 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Haemonetics in the second quarter valued at $33,326,000. 99.67% of the stock is owned by institutional investors and hedge funds.

About Haemonetics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.