Haemonetics' (HAE) "Outperform" Rating Reaffirmed at Barrington Research

Key Points

• Barrington Research reaffirmed Haemonetics' stock rating as "outperform" with a price target of $86.00, suggesting a potential upside of 69.32% from the previous close.
• Haemonetics reported an EPS of $1.10 for the last quarter, exceeding estimates, but its revenue was down 4.4% year-over-year at $321.39 million.
• Institutional investors hold 99.67% of Haemonetics' shares, with significant increases in stakes from firms like Allspring Global Investments and Fort Washington Investment Advisors.

Haemonetics (NYSE:HAE - Get Free Report)'s stock had its "outperform" rating restated by Barrington Research in a research note issued on Tuesday,Benzinga reports. They currently have a $86.00 target price on the medical instruments supplier's stock. Barrington Research's target price indicates a potential upside of 69.32% from the stock's previous close.

Several other analysts also recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $68.00 target price (down previously from $84.00) on shares of Haemonetics in a research note on Thursday, August 7th. Mizuho reduced their price objective on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Baird R W raised Haemonetics to a "strong-buy" rating in a research note on Wednesday, June 25th. Robert W. Baird initiated coverage on Haemonetics in a research note on Thursday, June 26th. They issued an "outperform" rating and a $87.00 price objective on the stock. Finally, Citigroup reduced their price objective on Haemonetics from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Haemonetics has a consensus rating of "Moderate Buy" and an average price target of $75.89.

Haemonetics Stock Performance

NYSE:HAE traded up $0.08 on Tuesday, hitting $50.79. The stock had a trading volume of 125,163 shares, compared to its average volume of 836,841. The business's 50-day simple moving average is $51.85 and its two-hundred day simple moving average is $62.63. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. Haemonetics has a 52-week low of $47.31 and a 52-week high of $94.99. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 0.93 and a beta of 0.37.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.10 EPS for the quarter, topping the consensus estimate of $1.01 by $0.09. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%.The firm had revenue of $321.39 million for the quarter, compared to the consensus estimate of $305.12 million. During the same quarter last year, the company earned $1.02 earnings per share. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. As a group, research analysts predict that Haemonetics will post 4.55 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Haemonetics by 11.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,060,790 shares of the medical instruments supplier's stock worth $51,777,000 after purchasing an additional 111,307 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Haemonetics by 36.2% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 706,312 shares of the medical instruments supplier's stock valued at $34,426,000 after buying an additional 187,630 shares during the last quarter. CWM LLC raised its stake in Haemonetics by 159.1% in the third quarter. CWM LLC now owns 4,733 shares of the medical instruments supplier's stock valued at $231,000 after buying an additional 2,906 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Haemonetics in the third quarter valued at about $309,000. Finally, Inspire Investing LLC raised its stake in Haemonetics by 78.4% in the third quarter. Inspire Investing LLC now owns 9,325 shares of the medical instruments supplier's stock valued at $455,000 after buying an additional 4,098 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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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