Haemonetics (NYSE:HAE) Hits New 12-Month High - Here's What Happened

Key Points

• Haemonetics shares reached a new 52-week high, trading as high as $119 after closing at $101.71, with the stock last trading near $115.93.
• The company beat quarterly expectations, reporting $1.14 in adjusted EPS versus the $1.08 consensus and revenue of $339.38 million, up 5.5% year over year.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating, while institutional investors own approximately 99.67% of the outstanding shares.

Haemonetics Corporation (NYSE:HAE - Get Free Report)'s stock price reached a new 52-week high on Thursday. The stock traded as high as $119.00 and last traded at $115.9320, with a volume of 63952 shares. The stock had previously closed at $101.71.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup upped their price objective on Haemonetics from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Mizuho raised their price target on shares of Haemonetics from $85.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Barrington Research increased their target price on shares of Haemonetics from $95.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, BTIG Research increased their price target on Haemonetics from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.78.

Haemonetics Price Performance

The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 57.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The company's 50-day moving average is $100.64 and its 200-day moving average is $78.67.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The business had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. During the same period in the previous year, the business earned $1.10 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Haemonetics Corporation will post 5.29 earnings per share for the current year.

Institutional Trading of Haemonetics

Several large investors have recently bought and sold shares of the business. Kelleher Financial Advisors bought a new position in shares of Haemonetics in the second quarter worth about $38,000. Northwestern Mutual Wealth Management Co. acquired a new position in Haemonetics during the 2nd quarter worth approximately $44,000. Public Employees Retirement System of Ohio bought a new position in Haemonetics in the 2nd quarter valued at approximately $54,000. Allworth Financial LP bought a new position in Haemonetics in the 2nd quarter valued at approximately $59,000. Finally, GAMMA Investing LLC increased its holdings in shares of Haemonetics by 133.4% during the second quarter. GAMMA Investing LLC now owns 803 shares of the medical instruments supplier's stock worth $60,000 after buying an additional 459 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

About Haemonetics

Haemonetics Corporation NYSE: HAE is a medical technology company that develops and supplies products and software for blood management. Its solutions are used to collect, process, manage and analyze blood and blood components, helping healthcare providers and blood and plasma collection organizations improve the availability, safety and efficiency of transfusion-related care.

The company's portfolio includes plasma and blood component collection systems, disposable collection and processing kits, surgical blood recovery and autotransfusion systems, and technologies used to assess coagulation and hemostasis.

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