Haemonetics Corporation (NYSE:HAE) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Analysts have given Haemonetics Corporation an average recommendation of "Buy", with eight out of eleven analysts rating it as such and a consensus target price of $97.30.
• Shares of Haemonetics opened at $74.71, with a 52-week range between $55.30 and $94.99, indicating potential for growth.
• In its latest earnings report, Haemonetics reported an EPS of $1.24, exceeding the consensus estimate of $1.22, although revenue decreased by 3.5% year-over-year.

Shares of Haemonetics Corporation (NYSE:HAE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eleven brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $95.70.

Several research firms have commented on HAE. Wall Street Zen cut Haemonetics from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Robert W. Baird began coverage on Haemonetics in a research note on Thursday, June 26th. They set an "outperform" rating and a $87.00 target price for the company. Baird R W raised Haemonetics to a "strong-buy" rating in a report on Wednesday, June 25th. Citigroup upgraded shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Wednesday, July 9th. Finally, Raymond James Financial reaffirmed 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.

Haemonetics Price Performance

NYSE:HAE traded down $20.29 during trading hours on Friday, reaching $55.49. 5,361,750 shares of the company were exchanged, compared to its average volume of 762,655. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 1.12. Haemonetics has a twelve month low of $55.30 and a twelve month high of $94.99. The firm has a market cap of $2.67 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.23 and a beta of 0.40. The stock's 50-day moving average is $73.41 and its 200-day moving average is $67.71.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.08. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. On average, sell-side analysts anticipate that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

Institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its holdings in shares of Haemonetics by 0.7% in the 1st quarter. Royce & Associates LP now owns 1,161,296 shares of the medical instruments supplier's stock valued at $73,800,000 after buying an additional 8,028 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Haemonetics by 22.1% during the first quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier's stock worth $71,070,000 after buying an additional 202,609 shares during the last quarter. Royal Bank of Canada raised its position in shares of Haemonetics by 2.3% during the first quarter. Royal Bank of Canada now owns 1,075,604 shares of the medical instruments supplier's stock worth $68,355,000 after acquiring an additional 24,650 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Haemonetics by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier's stock valued at $77,470,000 after purchasing an additional 10,990 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Haemonetics by 20.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 966,167 shares of the medical instruments supplier's stock worth $60,888,000 after purchasing an additional 165,118 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Company Profile

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.