Haemonetics Co. (NYSE:HAE) Given Average Recommendation of "Moderate Buy" by Brokerages

Haemonetics Co. (NYSE:HAE - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $97.89.

A number of equities analysts recently commented on the company. JMP Securities restated a "market outperform" rating and set a $100.00 target price on shares of Haemonetics in a report on Tuesday, May 20th. Wall Street Zen downgraded Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Raymond James restated a "strong-buy" rating and issued a $105.00 price target (down from $115.00) on shares of Haemonetics in a research note on Friday, May 9th. Finally, Needham & Company LLC reduced their price objective on Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, May 8th.

Haemonetics Stock Down 1.9%

NYSE HAE opened at $70.02 on Friday. Haemonetics has a one year low of $55.30 and a one year high of $94.99. The company has a market cap of $3.36 billion, a P/E ratio of 27.57, a P/E/G ratio of 1.11 and a beta of 0.36. The business has a fifty day moving average price of $65.16 and a 200 day moving average price of $69.17. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. The business had revenue of $330.60 million during the quarter, compared to analysts' expectations of $329.38 million. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The company's revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Research analysts anticipate that Haemonetics will post 4.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. purchased a new stake in shares of Haemonetics in the fourth quarter worth about $25,000. Quarry LP increased its position in Haemonetics by 63.4% in 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. Covestor Ltd increased its position in 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 acquiring an additional 439 shares during the period. Whittier Trust Co. bought a new position in Haemonetics during the 4th quarter valued at $62,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Haemonetics during the 1st quarter valued at $65,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

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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