Haemonetics (NYSE:HAE) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Haemonetics (NYSE:HAE - Free Report) from a neutral rating to a buy rating in a report released on Wednesday, Marketbeat reports. They currently have $90.00 price objective on the medical instruments supplier's stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC lowered their price target on Haemonetics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Raymond James Financial restated a "strong-buy" rating and set a $105.00 price target (down from $115.00) on shares of Haemonetics in a research note on Friday, May 9th. Wall Street Zen lowered Haemonetics from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. JMP Securities restated a "market outperform" rating and set a $100.00 price target on shares of Haemonetics in a research note on Tuesday, May 20th. Finally, Robert W. Baird started coverage on Haemonetics in a research note on Thursday, June 26th. They set an "outperform" rating and a $87.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.30.

Haemonetics Stock Performance

Shares of NYSE HAE traded down $2.62 during trading hours on Wednesday, hitting $75.55. 660,605 shares of the company's stock were exchanged, compared to its average volume of 676,026. 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. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.22 and a beta of 0.39. The company's 50-day moving average price is $70.73 and its 200-day moving average price is $67.98.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The business had revenue of $330.60 million during the quarter, compared to analysts' expectations of $329.38 million. During the same quarter in the previous year, the firm earned $0.90 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts expect that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HAE. Norges Bank bought a new stake in Haemonetics during the 4th quarter worth about $32,803,000. Citigroup Inc. raised its position in shares of Haemonetics by 87.3% during the 1st quarter. Citigroup Inc. now owns 625,565 shares of the medical instruments supplier's stock valued at $39,755,000 after acquiring an additional 291,574 shares during the last quarter. Voya Investment Management LLC lifted its stake in Haemonetics by 820.5% in the fourth quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock valued at $24,748,000 after buying an additional 282,521 shares during the period. MetLife Investment Management LLC boosted its stake in Haemonetics by 448.0% during the 1st quarter. MetLife Investment Management LLC now owns 316,542 shares of the medical instruments supplier's stock worth $20,116,000 after acquiring an additional 258,776 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Haemonetics by 434.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier's stock worth $24,522,000 after purchasing an additional 255,338 shares in the last quarter. Institutional investors own 99.67% of the company's stock.

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.