Haemonetics (NYSE:HAE) Sets New 12-Month High - Still a Buy?

Key Points

• Haemonetics shares reached a new 52-week high of $88.88, with the stock recently trading above its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive: the stock carries a consensus “Moderate Buy” rating and an average price target of $90.89, with several firms recently raising targets or upgrading the shares.
• The company beat quarterly expectations, reporting $1.14 in EPS versus $1.08 forecast and revenue of $339.38 million versus $327.86 million expected; revenue increased 5.5% year over year.

Haemonetics Corporation (NYSE:HAE - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $88.88 and last traded at $88.0440, with a volume of 43260 shares changing hands. The stock had previously closed at $86.61.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on HAE shares. JPMorgan Chase & Co. lifted their price target on Haemonetics from $62.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday. Bank of America upgraded Haemonetics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $72.00 to $80.00 in a research report on Friday, May 22nd. Mizuho increased their price target on 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 $96.00 price target on Haemonetics in a report on Friday. Finally, Wall Street Zen upgraded Haemonetics from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.89.

Haemonetics Price Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08. The firm has a market capitalization of $3.99 billion, a P/E ratio of 42.89, a price-to-earnings-growth ratio of 1.77 and a beta of 0.52. The business has a fifty day moving average of $77.37 and a 200-day moving average of $66.59.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. The company had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. On average, sell-side analysts forecast that Haemonetics Corporation will post 5.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in shares of Haemonetics by 48.6% during the 4th quarter. AQR Capital Management LLC now owns 3,163,104 shares of the medical instruments supplier's stock valued at $253,523,000 after purchasing an additional 1,034,226 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Haemonetics by 994.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier's stock valued at $110,615,000 after buying an additional 1,254,035 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Haemonetics by 21.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier's stock valued at $74,731,000 after acquiring an additional 233,119 shares during the last quarter. North Peak Capital Management LLC grew its holdings in shares of Haemonetics by 204.4% in 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 last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Haemonetics by 17.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier's stock worth $47,400,000 after purchasing an additional 124,020 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Haemonetics Company Profile

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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