Haemonetics (NYSE:HAE) Earns Outperform Rating from Analysts at Robert W. Baird

Stock analysts at Robert W. Baird began coverage on shares of Haemonetics (NYSE:HAE - Get Free Report) in a report released on Thursday, Marketbeat reports. The firm set an "outperform" rating and a $87.00 price target on the medical instruments supplier's stock. Robert W. Baird's price target would suggest a potential upside of 17.62% from the stock's previous close.

A number of other equities analysts also recently issued reports on HAE. Wall Street Zen downgraded Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $105.00 price objective (down from $115.00) on shares of Haemonetics in a research note on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $100.00 price objective on shares of Haemonetics in a research note on Tuesday, May 20th. Finally, Needham & Company LLC dropped their price objective on Haemonetics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.80.

Haemonetics Stock Performance

Shares of HAE stock traded down $0.80 during trading hours on Thursday, reaching $73.97. 1,007,944 shares of the company's stock were exchanged, compared to its average volume of 670,387. The company has a market cap of $3.55 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.20 and a beta of 0.36. The company's 50 day moving average is $67.81 and its two-hundred day moving average is $68.07. Haemonetics has a 1 year low of $55.30 and a 1 year 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 issued its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. The business had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts anticipate that Haemonetics will post 4.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

A number of large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its holdings in Haemonetics by 14.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier's stock valued at $98,716,000 after buying an additional 164,111 shares during the last quarter. Royce & Associates LP grew its holdings in Haemonetics by 0.7% during the 1st quarter. Royce & Associates LP now owns 1,161,296 shares of the medical instruments supplier's stock valued at $73,800,000 after buying an additional 8,028 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Haemonetics by 22.1% during the 1st quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier's stock valued at $71,070,000 after buying an additional 202,609 shares during the last quarter. Royal Bank of Canada grew its holdings in Haemonetics by 2.3% during the 1st quarter. Royal Bank of Canada now owns 1,075,604 shares of the medical instruments supplier's stock valued at $68,355,000 after buying an additional 24,650 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Haemonetics by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier's stock worth $77,470,000 after purchasing an additional 10,990 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

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.