Haemonetics (NYSE:HAE) Earns "Outperform" Rating from Barrington Research

Key Points

• Haemonetics received an "outperform" rating from Barrington Research, with a target price of $86.00, suggesting a potential upside of 66.96% from its previous close.
• The company's latest quarterly earnings surpassed analysts' expectations, reporting $1.10 EPS and revenue of $321.39 million, although revenue experienced a 4.4% decline year-over-year.
• Haemonetics has a strong institutional backing, with 99.67% of the stock owned by hedge funds and institutional investors, indicating robust investor confidence.

Haemonetics (NYSE:HAE - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Barrington Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $86.00 price objective on the medical instruments supplier's stock. Barrington Research's target price points to a potential upside of 66.96% from the stock's previous close.

A number of other equities analysts also recently issued reports on HAE. Needham & Company LLC reiterated a "buy" rating and issued a $68.00 price objective (down previously from $84.00) on shares of Haemonetics in a report on Thursday, August 7th. 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 on the stock. Mizuho decreased their price objective on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Baird R W upgraded Haemonetics to a "strong-buy" rating in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $62.00 price objective (down previously from $85.00) on shares of Haemonetics in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.78.

Haemonetics Stock Performance

Haemonetics stock traded up $0.33 during midday trading on Tuesday, reaching $51.51. The stock had a trading volume of 241,811 shares, compared to its average volume of 840,698. Haemonetics has a 12 month low of $49.43 and a 12 month high of $94.99. The firm's 50-day moving average price is $60.69 and its 200 day moving average price is $64.72. The firm has a market capitalization of $2.48 billion, a PE ratio of 15.71, a P/E/G ratio of 0.93 and a beta of 0.39. 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 (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.09. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The firm had revenue of $321.39 million for the quarter, compared to the consensus estimate of $305.12 million. During the same period in the prior year, the firm posted $1.02 earnings per share. The company's revenue for the quarter was down 4.4% on a year-over-year basis. 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 fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Haemonetics in the first quarter valued at approximately $468,000. AQR Capital Management LLC grew its position in shares of Haemonetics by 591.6% in the first quarter. AQR Capital Management LLC now owns 174,565 shares of the medical instruments supplier's stock valued at $10,931,000 after purchasing an additional 149,325 shares during the period. Envestnet Asset Management Inc. grew its position in Haemonetics by 16.0% during the first quarter. Envestnet Asset Management Inc. now owns 55,746 shares of the medical instruments supplier's stock valued at $3,543,000 after acquiring an additional 7,678 shares during the period. Royal Bank of Canada boosted its position in shares of Haemonetics by 2.3% in 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 buying an additional 24,650 shares during the period. Finally, Invenomic Capital Management LP purchased a new stake in shares of Haemonetics in the first quarter worth about $6,783,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

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