Haemonetics Corporation (NYSE:HAE) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Haemonetics has a “Moderate Buy” consensus rating among 11 analysts, with six buy ratings, four holds, and one strong buy. The average 12-month price target is $110, while several firms recently raised targets to as high as $140.
• The company exceeded quarterly expectations, reporting $1.14 in EPS versus the $1.08 consensus and $339.38 million in revenue, up 5.5% year over year.
• Haemonetics shares opened at $119.30, near their 52-week high of $123.77, while institutional investors own approximately 99.67% of the stock.

Haemonetics Corporation (NYSE:HAE - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat.com 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 1 year price objective among brokers that have issued ratings on the stock in the last year is $110.00.

HAE has been the subject of a number of research analyst reports. Barrington Research lifted their price target on Haemonetics from $118.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, October 9th. BTIG Research upped their price target on shares of Haemonetics from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, October 8th. Raymond James Financial increased their price objective on shares of Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. 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, Mizuho raised their price objective on shares of Haemonetics from $95.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, October 9th.

Haemonetics Stock Performance

NYSE:HAE opened at $119.30 on Tuesday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 58.48, a price-to-earnings-growth ratio of 2.37 and a beta of 0.61. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40. Haemonetics has a 1 year low of $48.98 and a 1 year high of $123.77. The firm has a 50 day moving average of $108.13 and a 200-day moving average of $77.94.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%. The business had revenue of $339.38 million for the quarter, compared to analyst estimates of $327.86 million. During the same period in the prior year, the company earned $1.10 EPS. Haemonetics's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Haemonetics will post 5.29 EPS for the current fiscal year.

Institutional Trading of Haemonetics

Hedge funds have recently modified their holdings of the stock. Nierenberg Investment Management Company LLC bought a new position in Haemonetics in the 2nd quarter worth approximately $1,971,000. Rice Hall James & Associates LLC bought a new position in Haemonetics in the 2nd quarter valued at $3,828,000. Renaissance Technologies LLC bought a new position in Haemonetics in the 1st quarter valued at $2,435,000. Quantinno Capital Management LP boosted its position in Haemonetics by 438.0% in the 1st quarter. Quantinno Capital Management LP now owns 30,708 shares of the medical instruments supplier's stock valued at $1,731,000 after buying an additional 25,000 shares during the last quarter. Finally, Aurora Investment Counsel bought a new position in Haemonetics in the 2nd quarter valued at $1,913,000. 99.67% of the stock is owned by institutional investors.

About Haemonetics

Haemonetics Corporation NYSE: HAE is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company's offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.

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