Robert W. Baird Issues Positive Forecast for Haemonetics (NYSE:HAE) Stock Price

Key Points

• Robert W. Baird raised Haemonetics’ price target from $96 to $119 and maintained an “outperform” rating, implying 9.74% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $97.56; the stock opened at $108.44, near its 52-week high.
• Haemonetics exceeded quarterly expectations, reporting $1.14 EPS versus $1.08 expected and $339.38 million in revenue, up 5.5% year over year. Institutional investors own 99.67% of the company’s shares.

Haemonetics (NYSE:HAE - Get Free Report) had its price target upped by Robert W. Baird from $96.00 to $119.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the medical instruments supplier's stock. Robert W. Baird's price target suggests a potential upside of 9.74% from the stock's previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Haemonetics from $62.00 to $86.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Citigroup lifted their target price on Haemonetics from $79.00 to $92.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Weiss Ratings raised Haemonetics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Mizuho raised their price target on shares of Haemonetics from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Finally, Bank of America upgraded shares of Haemonetics from a "neutral" rating to a "buy" rating and raised their price target for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.56.

Haemonetics Stock Up 0.0%

HAE opened at $108.44 on Friday. The stock has a fifty day moving average of $81.07 and a 200-day moving average of $68.20. The company has a market capitalization of $4.93 billion, a P/E ratio of 53.16, a P/E/G ratio of 2.17 and a beta of 0.52. Haemonetics has a fifty-two week low of $47.31 and a fifty-two week high of $109.56. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The firm had revenue of $339.38 million during the quarter, compared to analysts' expectations of $327.86 million. During the same period in the previous year, the firm earned $1.10 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Haemonetics will post 5.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Haemonetics by 372.8% in the third quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier's stock worth $102,814,000 after purchasing an additional 1,678,630 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Haemonetics by 994.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier's stock worth $110,615,000 after buying an additional 1,254,035 shares during the period. Millennium Management LLC lifted its holdings in Haemonetics by 4,296.3% during the 3rd quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier's stock worth $37,685,000 after buying an additional 755,592 shares during the period. North Peak Capital Management LLC grew its position in shares of Haemonetics by 204.4% in the 4th quarter. North Peak Capital Management LLC now owns 1,102,992 shares of the medical instruments supplier's stock valued at $88,405,000 after buying an additional 740,626 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Haemonetics in the 2nd quarter valued at about $33,326,000. Institutional investors and hedge funds own 99.67% of the company's stock.

About Haemonetics

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company's offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company's product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.

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