Haemonetics Corporation (NYSE:HAE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Haemonetics “Moderate Buy.” Six analysts recommend buying the stock, one rates it a strong buy, and four recommend holding; the average 12-month price target is $90.89.
• Recent targets range from $86 to $105, with Raymond James maintaining an outperform rating and a $105 target, while JPMorgan and Citigroup kept neutral ratings despite raising their targets.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in EPS versus $1.08 expected and $339.38 million in revenue versus $327.86 million expected. Revenue increased 5.5% year over year, and institutional investors own 99.67% of the stock.

Shares of Haemonetics Corporation (NYSE:HAE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $90.8889.

Several research firms have recently commented on HAE. Barrington Research set a $95.00 price target on shares of Haemonetics in a report on Friday, August 7th. Robert W. Baird set a $96.00 target price on shares of Haemonetics in a report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Haemonetics from $62.00 to $86.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Raymond James Financial restated an "outperform" rating and issued a $105.00 target price on shares of Haemonetics in a research note on Friday, August 7th. Finally, Citigroup upped their target price on Haemonetics from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, August 7th.

Haemonetics Stock Performance

HAE stock opened at $91.11 on Thursday. The stock's 50 day simple moving average is $78.29 and its 200 day simple moving average is $66.86. Haemonetics has a 12-month low of $47.31 and a 12-month high of $91.39. The firm has a market cap of $4.15 billion, a P/E ratio of 44.66, a P/E/G ratio of 1.75 and a beta of 0.52. 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 (NYSE:HAE - Get Free Report) last released its quarterly earnings data 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 net margin of 7.12% and a return on equity of 27.55%. The firm had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The firm's revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Haemonetics will post 5.28 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HAE. Elevation Point Wealth Partners LLC acquired a new stake in Haemonetics in the second quarter worth $224,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Haemonetics during the second quarter valued at $44,000. Evolve Private Wealth LLC bought a new position in shares of Haemonetics during the second quarter worth about $355,000. William Blair Investment Management LLC bought a new position in shares of Haemonetics during the second quarter worth about $24,906,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Haemonetics in the 2nd quarter worth about $542,000. 99.67% of the stock is currently owned by institutional investors.

About Haemonetics

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source