Haemonetics (NYSE:HAE) Reaches New 52-Week High - What's Next?

Key Points

• Haemonetics reached a new 52-week high, trading around $88.48 and up 2.0% intraday. Its 50-day and 200-day moving averages were $75.11 and $66.09, respectively.
• Analysts have a “Moderate Buy” consensus, with one Strong Buy, seven Buy and three Hold ratings, though the average price target of $78.89 is below the current share price.
• The company slightly beat quarterly expectations, reporting $1.29 in EPS versus $1.28 expected and $346.35 million in revenue versus $336.83 million expected; institutional investors own 99.67% of its stock.

Haemonetics Corporation (NYSE:HAE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $87.49 and last traded at $88.4750, with a volume of 21549 shares trading hands. The stock had previously closed at $85.54.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird set a $67.00 price objective on Haemonetics in a research report on Friday, May 8th. Barrington Research cut their price objective on shares of Haemonetics from $94.00 to $89.00 and set an "outperform" rating on the stock in a report on Tuesday, May 12th. Citigroup restated a "buy" rating on shares of Haemonetics in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Haemonetics from $74.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, May 8th. Finally, Bank of America raised shares of Haemonetics from a "neutral" rating to a "buy" rating and increased their target price for the company from $72.00 to $80.00 in a research report on Friday, May 22nd. One investment 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 stock. Based on data from MarketBeat.com, Haemonetics has a consensus rating of "Moderate Buy" and an average price target of $78.89.

Haemonetics Trading Up 2.0%

The business's 50-day moving average price is $75.11 and its 200-day moving average price is $66.09. The firm has a market capitalization of $3.96 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.95 and a quick ratio of 1.87.

Haemonetics (NYSE:HAE - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $346.35 million during the quarter, compared to the consensus estimate of $336.83 million. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. Haemonetics's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. As a group, analysts expect that Haemonetics Corporation will post 5.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Several large investors have recently modified their holdings of HAE. AQR Capital Management LLC lifted its position in shares of Haemonetics by 372.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier's stock valued at $102,814,000 after acquiring an additional 1,678,630 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Haemonetics by 994.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier's stock worth $110,615,000 after purchasing an additional 1,254,035 shares during the last quarter. Millennium Management LLC grew its position in shares of Haemonetics by 4,296.3% in the third quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier's stock valued at $37,685,000 after purchasing an additional 755,592 shares during the period. North Peak Capital Management LLC lifted its holdings in shares of Haemonetics by 204.4% during the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier's stock worth $88,405,000 after acquiring an additional 740,626 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Haemonetics during the 3rd quarter valued at $15,703,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

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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