Haemonetics (NYSE:HAE) Earns “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Haemonetics (NYSE:HAE) in a research report report published on Friday,Benzinga reports. The firm currently has a $108.00 target price on the medical instruments supplier’s stock.

HAE has been the topic of several other research reports. CL King started coverage on shares of Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Bank of America assumed coverage on Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. Citigroup reduced their target price on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, BTIG Research began coverage on Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Haemonetics has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Price Performance

Shares of NYSE:HAE traded up $0.89 during trading on Friday, reaching $87.42. The company had a trading volume of 1,161,915 shares, compared to its average volume of 546,918. The firm’s fifty day moving average is $75.88 and its 200 day moving average is $82.65. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. The firm has a market capitalization of $4.47 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 1.22 and a beta of 0.32. Haemonetics has a twelve month low of $70.25 and a twelve month high of $97.97.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.03. The company had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. On average, equities analysts forecast that Haemonetics will post 4.57 EPS for the current year.

Hedge Funds Weigh In On Haemonetics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in Haemonetics in the 2nd quarter valued at approximately $39,000. Covestor Ltd boosted its position in Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 438 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Haemonetics in the second quarter valued at about $82,000. Canada Pension Plan Investment Board purchased a new stake in shares of Haemonetics during the 2nd quarter worth about $83,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Haemonetics during the 1st quarter valued at about $86,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.