Haemonetics (NYSE:HAE) Reaches New 52-Week High - Should You Buy?

Key Points

• Haemonetics hit a 52-week high, reaching $125.38 before last trading at $124.78, up from its previous close of $120.28.
• Analysts have a consensus “Moderate Buy” rating, with an average price target of $110—below the stock’s latest price—though some brokerages recently raised their targets.
• The company beat quarterly earnings and revenue estimates, reporting $1.14 in EPS and $339.38 million in revenue; revenue rose 5.5% year over year.

Haemonetics Corporation (NYSE:HAE - Get Free Report) hit a new 52-week high during trading on Wednesday. The company traded as high as $125.38 and last traded at $124.78, with a volume of 42,324 shares changing hands. The stock had previously closed at $120.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HAE. Barrington Research raised their price objective on Haemonetics from $118.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, October 9th. Raymond James Financial upped their target price on Haemonetics from $105.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Citigroup upped their target price on Haemonetics from $79.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Wall Street Zen upgraded Haemonetics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Haemonetics from $62.00 to $86.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $110.00.

Haemonetics Price Performance

The firm has a market cap of $5.72 billion, a P/E ratio of 61.50, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63. The stock's 50-day moving average is $110.48 and its 200-day moving average is $79.28. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40.

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

Institutional Investors Weigh In On Haemonetics

Several hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC raised its stake in shares of Haemonetics by 104.5% in the 3rd quarter. Fortitude Family Office LLC now owns 272 shares of the medical instruments supplier's stock valued at $29,000 after buying an additional 139 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Haemonetics during the 3rd quarter worth about $40,000. Kelleher Financial Advisors bought a new position in shares of Haemonetics during the 2nd quarter worth about $38,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Haemonetics during the 2nd quarter valued at about $44,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Haemonetics during the 2nd quarter valued at about $54,000. Institutional investors own 99.67% of the company's stock.

Haemonetics Company Profile

Haemonetics Corporation NYSE: HAE is a healthcare technology company that develops and supplies products and services for blood and plasma collection, processing, and management. Its solutions are used by blood and plasma collection organizations, hospitals, and other healthcare providers to support the efficient handling of blood components and improve patient care.

The company's offerings include automated plasma and blood-component collection systems, disposable collection sets, blood-processing equipment, and software designed to manage collection and transfusion-related operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.