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.
Analyst Ratings Changes
A number of analysts have recently weighed in on HAE shares. Raymond James increased their target price on shares of Haemonetics from $76.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday. StockNews.com upgraded shares of Haemonetics from a "hold" rating to a "buy" rating in a report on Thursday, July 21st. Morgan Stanley increased 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. Barrington Research raised their price objective on shares of Haemonetics from $77.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, JMP Securities raised their price objective on shares of Haemonetics from $80.00 to $90.00 and gave the stock a "market outperform" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Haemonetics presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.80.
Haemonetics Stock Up 0.9 %
Shares of NYSE:HAE traded up $0.68 on Monday, reaching $75.88. 762,944 shares of the company's stock traded hands, compared to its average volume of 509,489. Haemonetics has a 12 month low of $43.50 and a 12 month high of $77.08. The business's 50 day simple moving average is $65.98 and its two-hundred day simple moving average is $59.92. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 57.41 and a beta of 0.39. The company has a quick ratio of 2.27, a current ratio of 3.81 and a debt-to-equity ratio of 0.99.
Haemonetics (NYSE:HAE - Get Rating) last announced its earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.07. Haemonetics had a net margin of 6.60% and a return on equity of 18.62%. The business had revenue of $261.50 million during the quarter, compared to the consensus estimate of $249.00 million. During the same quarter last year, the firm earned $0.50 earnings per share. The business's revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities research analysts forecast that Haemonetics will post 2.77 EPS for the current fiscal year.
Insider Activity at Haemonetics
In related news, CEO Christopher Simon sold 2,496 shares of the firm's stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $59.10, for a total transaction of $147,513.60. Following the completion of the sale, the chief executive officer now owns 214,872 shares of the company's stock, valued at $12,698,935.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Haemonetics news, insider Stewart W. Strong sold 1,084 shares of Haemonetics stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $59.10, for a total value of $64,064.40. Following the completion of the sale, the insider now owns 15,756 shares of the company's stock, valued at approximately $931,179.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher Simon sold 2,496 shares of Haemonetics stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $59.10, for a total transaction of $147,513.60. Following the completion of the sale, the chief executive officer now directly owns 214,872 shares of the company's stock, valued at approximately $12,698,935.20. The disclosure for this sale can be found here. Insiders sold 7,075 shares of company stock valued at $425,274 over the last 90 days. Corporate insiders own 1.65% of the company's stock.
