Haemonetics (NYSE:HAE) Shares Up 7.5% – Should You Buy?

Haemonetics Corporation (NYSE:HAE)’s stock price rose 7.5% during trading on Tuesday . The company traded as high as $80.48 and last traded at $80.5250. Approximately 402,634 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 850,927 shares. The stock had previously closed at $74.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen raised Haemonetics from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $72.00 to $80.00 in a report on Friday, May 22nd. Barrington Research cut their target price on shares of Haemonetics from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Citigroup upped their price target on shares of Haemonetics from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Finally, Mizuho reduced their target price on shares of Haemonetics from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.11.

Haemonetics Trading Up 5.8%

The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. The stock’s 50 day moving average price is $60.39 and its 200-day moving average price is $67.22. The stock has a market capitalization of $3.60 billion, a P/E ratio of 39.24, a P/E/G ratio of 1.43 and a beta of 0.55.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, May 7th. The medical instruments supplier reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $346.35 million during the quarter, compared to the consensus estimate of $336.83 million. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. Haemonetics’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. As a group, equities research analysts expect that Haemonetics Corporation will post 5.23 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in Haemonetics by 48.6% in the fourth quarter. AQR Capital Management LLC now owns 3,163,104 shares of the medical instruments supplier’s stock worth $253,523,000 after purchasing an additional 1,034,226 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Haemonetics by 994.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,380,102 shares of the medical instruments supplier’s stock valued at $110,615,000 after buying an additional 1,254,035 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Haemonetics by 21.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock valued at $74,731,000 after buying an additional 233,119 shares in the last quarter. 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 worth $88,405,000 after buying an additional 740,626 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of Haemonetics by 17.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 841,017 shares of the medical instruments supplier’s stock worth $47,400,000 after buying an additional 124,020 shares during the last quarter. Institutional investors 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.