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

Shares of Haemonetics Corporation (NYSE:HAE - Get Free Report) have earned an average recommendation of "Buy" from the eleven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $97.30.

Several brokerages recently weighed in on HAE. JMP Securities reiterated a "market outperform" rating and issued a $100.00 price objective on shares of Haemonetics in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of Haemonetics from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Needham & Company LLC cut their price objective on shares of Haemonetics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Raymond James Financial reiterated a "strong-buy" rating and issued a $105.00 price objective (down from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Finally, Citigroup upgraded shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Wednesday.

Institutional Trading of Haemonetics

Several large investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division lifted its holdings in Haemonetics by 64.5% in the second quarter. Central Pacific Bank Trust Division now owns 7,623 shares of the medical instruments supplier's stock valued at $569,000 after buying an additional 2,988 shares during the period. Inspire Investing LLC raised its holdings in Haemonetics by 5.9% in the first quarter. Inspire Investing LLC now owns 5,441 shares of the medical instruments supplier's stock worth $346,000 after purchasing an additional 304 shares during the period. Rhumbline Advisers raised its holdings in Haemonetics by 1.2% in the first quarter. Rhumbline Advisers now owns 161,123 shares of the medical instruments supplier's stock worth $10,239,000 after purchasing an additional 1,861 shares during the period. Strs Ohio acquired a new stake in Haemonetics in the first quarter worth $140,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Haemonetics by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,138 shares of the medical instruments supplier's stock worth $9,923,000 after purchasing an additional 9,051 shares during the period. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Up 2.4%

HAE traded up $1.82 during trading hours on Wednesday, reaching $77.79. 865,838 shares of the stock traded hands, compared to its average volume of 764,099. The firm's fifty day simple moving average is $69.90 and its two-hundred day simple moving average is $67.98. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.22 and a beta of 0.39. Haemonetics has a fifty-two week low of $55.30 and a fifty-two week high of $94.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.62 and a quick ratio of 0.99.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. The company had revenue of $330.60 million during the quarter, compared to analyst estimates of $329.38 million. Haemonetics had a net margin of 12.32% and a return on equity of 26.37%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. As a group, analysts forecast that Haemonetics will post 4.55 earnings per share for the current fiscal year.

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.