Haemonetics (NYSE:HAE) Given New $96.00 Price Target at BTIG Research

Key Points

• BTIG Research raised Haemonetics’ price target from $84 to $96 and maintained a “buy” rating, implying 13.39% potential upside from the reported share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average target price of $80.22; ratings include one Strong Buy, seven Buys, and three Holds.
• Haemonetics reported quarterly EPS of $1.14, beating estimates of $1.08, while revenue increased 5.5% year over year. Shares traded at $84.66, near their 12-month high of $88.58.

Haemonetics (NYSE:HAE - Get Free Report) had its price target upped by research analysts at BTIG Research from $84.00 to $96.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the medical instruments supplier's stock. BTIG Research's price target would suggest a potential upside of 13.39% from the company's current price.

Several other analysts have also recently weighed in on the stock. Mizuho boosted their price objective on shares of Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Robert W. Baird set a $67.00 target price on Haemonetics in a report on Friday, May 8th. Weiss Ratings raised Haemonetics from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 25th. Citigroup reaffirmed a "buy" rating on shares of Haemonetics in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Haemonetics from $74.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Haemonetics currently has an average rating of "Moderate Buy" and a consensus target price of $80.22.

Haemonetics Trading Up 1.3%

Shares of NYSE:HAE traded up $1.06 during midday trading on Thursday, hitting $84.66. 676,917 shares of the stock were exchanged, compared to its average volume of 850,823. The business's 50-day moving average price is $76.23 and its 200 day moving average price is $66.28. Haemonetics has a 12 month low of $47.31 and a 12 month high of $88.58. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.87 and a current ratio of 2.95. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 42.09, a P/E/G ratio of 1.72 and a beta of 0.52.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. During the same period last year, the firm posted $1.10 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts predict that Haemonetics will post 5.21 earnings per share for the current year.

Hedge Funds Weigh In On Haemonetics

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in shares of Haemonetics by 12.3% in the first quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier's stock worth $108,000 after purchasing an additional 211 shares in the last quarter. Quantinno Capital Management LP lifted its position in Haemonetics by 9.0% in the second quarter. Quantinno Capital Management LP now owns 3,492 shares of the medical instruments supplier's stock worth $261,000 after buying an additional 289 shares during the last quarter. UMB Bank n.a. grew its position in Haemonetics by 110.9% in the 4th quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier's stock valued at $47,000 after acquiring an additional 306 shares during the last quarter. Cardinal Capital Management increased its holdings in Haemonetics by 1.5% during the 4th quarter. Cardinal Capital Management now owns 22,442 shares of the medical instruments supplier's stock worth $1,799,000 after purchasing an additional 321 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Haemonetics during the fourth quarter valued at approximately $26,000. 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.

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