Analysts Set Haemonetics Co. (NYSE:HAE) Price Target at $108.67

Haemonetics Co. (NYSE:HAE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the four research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $108.67.

HAE has been the subject of a number of analyst reports. StockNews.com downgraded Haemonetics from a "buy" rating to a "hold" rating in a research note on Friday, March 22nd. TheStreet cut shares of Haemonetics from a "b-" rating to a "c+" rating in a research report on Thursday, February 29th. Barrington Research increased their price target on shares of Haemonetics from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Friday. JMP Securities boosted their price objective on shares of Haemonetics from $115.00 to $125.00 and gave the company a "market outperform" rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Haemonetics in a report on Friday.

Haemonetics Stock Performance

NYSE HAE traded up $3.30 during trading on Friday, reaching $95.90. The company's stock had a trading volume of 445,064 shares, compared to its average volume of 463,513. Haemonetics has a 12 month low of $70.74 and a 12 month high of $97.13. The firm has a 50 day moving average price of $84.42 and a 200 day moving average price of $82.93. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34. The company has a current ratio of 2.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.91.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. Haemonetics had a return on equity of 22.37% and a net margin of 9.97%. The business had revenue of $343.00 million during the quarter, compared to analysts' expectations of $329.53 million. During the same period in the previous year, the company posted $0.77 earnings per share. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that Haemonetics will post 3.95 EPS for the current fiscal year.

Insider Activity at Haemonetics

In other Haemonetics news, EVP Anila Lingamneni sold 2,305 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $95.00, for a total value of $218,975.00. Following the completion of the transaction, the executive vice president now directly owns 12,295 shares in the company, valued at $1,168,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is owned by insiders.

Institutional Trading of Haemonetics

A number of institutional investors and hedge funds have recently bought and sold shares of HAE. Norges Bank bought a new stake in Haemonetics during the fourth quarter valued at $28,591,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Haemonetics by 132.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 502,993 shares of the medical instruments supplier's stock worth $42,930,000 after buying an additional 286,897 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of Haemonetics by 27.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier's stock worth $60,888,000 after buying an additional 152,098 shares during the period. Victory Capital Management Inc. lifted its position in shares of Haemonetics by 50.0% during the 3rd quarter. Victory Capital Management Inc. now owns 357,303 shares of the medical instruments supplier's stock valued at $32,007,000 after acquiring an additional 119,072 shares during the period. Finally, Kingdon Capital Management L.L.C. bought a new position in shares of Haemonetics during the 3rd quarter worth about $9,952,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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 intravenous 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.