Analysts Set Haemonetics Co. (NYSE:HAE) Price Target at $109.75

Shares of Haemonetics Co. (NYSE:HAE) have received an average rating of “Moderate Buy” from the four analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $107.50.

A number of equities research analysts have commented on the company. Needham & Company LLC raised Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a report on Wednesday, June 12th. Citigroup cut their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday. Barrington Research lifted their price target on Haemonetics from $107.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research note on Tuesday, August 13th.

Haemonetics Stock Performance

NYSE:HAE opened at $75.50 on Friday. Haemonetics has a 1-year low of $70.74 and a 1-year high of $97.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50. The firm’s fifty day moving average price is $84.41 and its 200 day moving average price is $83.79. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The business had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. During the same period last year, the business posted $1.05 EPS. Haemonetics’s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Haemonetics will post 4.57 EPS for the current year.

Insider Transactions at Haemonetics

In other Haemonetics news, EVP Michelle L. Basil sold 12,990 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $88.08, for a total value of $1,144,159.20. Following the completion of the transaction, the executive vice president now owns 31,257 shares in the company, valued at approximately $2,753,116.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Haemonetics news, EVP Michelle L. Basil sold 12,990 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $88.08, for a total value of $1,144,159.20. Following the completion of the transaction, the executive vice president now owns 31,257 shares in the company, valued at approximately $2,753,116.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stewart W. Strong sold 8,857 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total value of $775,253.21. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at approximately $1,592,695.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,295 shares of company stock worth $2,504,691. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Haemonetics

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Haemonetics during the 2nd quarter valued at approximately $39,000. TFO Wealth Partners LLC raised its position in shares of Haemonetics by 29,450.0% during the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 589 shares in the last quarter. Covestor Ltd raised its position in shares of Haemonetics by 184.8% during the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 438 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Haemonetics during the 2nd quarter valued at approximately $82,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Haemonetics during the 2nd quarter valued at approximately $83,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and 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 and Donor360 app.