Haemonetics (NYSE:HAE) Shares Gap Up - Still a Buy?

Key Points

• Haemonetics shares gapped higher, opening at $106.98 versus a prior close of $102.69, and last traded near $103.48. The company has a $4.76 billion market capitalization and its shares remain well above their 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with a MarketBeat consensus rating of “Moderate Buy” from one Strong Buy, six Buy and four Hold ratings. The average price target is $99.78, though Robert W. Baird raised its target to $119 and assigned an Outperform rating.
• Haemonetics exceeded quarterly expectations, reporting $1.14 in EPS versus the $1.08 consensus and revenue of $339.38 million versus $327.86 million expected. Revenue increased 5.5% year over year, while institutional investors own 99.67% of the company’s shares.

Haemonetics Corporation (NYSE:HAE - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $102.69, but opened at $106.98. Haemonetics shares last traded at $103.4840, with a volume of 92,238 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on HAE shares. Weiss Ratings raised Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Wall Street Zen raised Haemonetics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. increased their price target on Haemonetics from $62.00 to $86.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Robert W. Baird lifted their price objective on Haemonetics from $96.00 to $119.00 and gave the stock an "outperform" rating in a report on Friday, August 21st. Finally, Citigroup boosted their price objective on Haemonetics from $79.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Haemonetics has an average rating of "Moderate Buy" and an average price target of $99.78.

Haemonetics Stock Up 1.9%

The stock has a market capitalization of $4.76 billion, a P/E ratio of 51.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.54. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91. The stock has a fifty day moving average price of $90.46 and a 200 day moving average price of $73.10.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $339.38 million for the quarter, compared to analysts' expectations 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 prior year, the firm posted $1.10 EPS. On average, research analysts forecast that Haemonetics Corporation will post 5.29 earnings per share for the current year.

Institutional Trading of Haemonetics

Several institutional investors and hedge funds have recently bought and sold shares of HAE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Haemonetics by 3.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,541 shares of the medical instruments supplier's stock worth $1,877,000 after buying an additional 971 shares in the last quarter. Caxton Associates LLP bought a new position in Haemonetics in the 1st quarter worth about $216,000. United Services Automobile Association bought a new position in Haemonetics in the 1st quarter worth about $212,000. Empowered Funds LLC raised its holdings in shares of Haemonetics by 9.1% in the 1st quarter. Empowered Funds LLC now owns 4,458 shares of the medical instruments supplier's stock valued at $283,000 after acquiring an additional 372 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Haemonetics by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,138 shares of the medical instruments supplier's stock valued at $9,923,000 after acquiring an additional 9,051 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Company Profile

Haemonetics Corporation is a medical technology company that develops and markets products and services for blood management. Its offerings support blood and plasma collection, blood component processing, surgical blood salvage, hemostasis testing and hospital transfusion management.

The company's product portfolio includes automated plasma and blood component collection systems, equipment and disposables used in surgical cell salvage, and diagnostic technologies that help healthcare professionals assess coagulation and bleeding risk.

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