Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, 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. It also provides automated blood component and manual whole blood collection systems, such as MCS brand apheresis equipment to collect specific blood components from the donor; disposable whole blood collection and component storage sets; SafeTrace Tx blood bank information system; and BloodTrack blood management software, a suite of blood management and bedside transfusion solutions that combines software with hardware components, as well as an extension of the hospital's blood bank information system. In addition, the company offers hospital products comprising TEG, ClotPro, and HAS hemostasis analyzer systems that provide a comprehensive assessment of a patient's overall hemostasis; TEG Manager software, which connects various TEG analyzers throughout the hospital, providing clinicians remote access to active and historical test results that inform treatment decisions; and Cell Saver Elite +, an autologous blood recovery system for cardiovascular, orthopedic, trauma, transplant, vascular, obstetrical, and gynecological surgeries. It markets and sells its products through direct sales force, independent distributors, and sales representatives. Haemonetics Corporation was founded in 1971 and is headquartered in Boston, Massachusetts.
Haemonetics Trading Down 0.5 %
HAE Stock traded down $0.36 during mid-day trading on Thursday, hitting $75.96. 449,558 shares of the company were exchanged, compared to its average volume of 414,725. The company has a quick ratio of 2.27, a current ratio of 3.81 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $3.90 billion, a P/E ratio of 57.99 and a beta of 0.39. The business has a fifty day simple moving average of $66.60 and a 200-day simple moving average of $60.35. Haemonetics has a 12-month low of $43.50 and a 12-month high of $77.08.
Haemonetics (NYSE:HAE - Get Rating) last issued its earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. Haemonetics had a net margin of 6.60% and a return on equity of 18.62%. The firm had revenue of $261.50 million for the quarter, compared to analysts' expectations of $249.00 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm's revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts predict that Haemonetics will post 2.77 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Haemonetics from $70.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, August 11th. Raymond James raised their price objective on shares of Haemonetics from $76.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, August 11th. Barrington Research raised their price objective on shares of Haemonetics from $77.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, August 11th. JMP Securities raised their price objective on shares of Haemonetics from $80.00 to $90.00 and gave the company a "market outperform" rating in a research report on Thursday, August 11th. Finally, Citigroup lifted their price objective on shares of Haemonetics to $74.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.80.
Insider Activity at Haemonetics
In related news, Director Mark W. Kroll sold 8,016 shares of the business's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $73.71, for a total value of $590,859.36. Following the sale, the director now directly owns 16,231 shares in the company, valued at approximately $1,196,387.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Haemonetics news, CEO Christopher Simon sold 1,148 shares of the company's stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $62.60, for a total value of $71,864.80. Following the completion of the transaction, the chief executive officer now owns 213,724 shares in the company, valued at approximately $13,379,122.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark W. Kroll sold 8,016 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $73.71, for a total value of $590,859.36. Following the transaction, the director now owns 16,231 shares of the company's stock, valued at $1,196,387.01. The disclosure for this sale can be found here. Insiders have sold a total of 10,002 shares of company stock worth $715,374 in the last three months. Insiders own 1.65% of the company's stock.
