Brokerages Set Haemonetics Corporation (NYSE:HAE) Price Target at $99.78

Haemonetics Corporation (NYSE:HAE) has earned an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $99.7778.

HAE has been the topic of several research analyst reports. Robert W. Baird lifted their price target on Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Citigroup increased their price objective on Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Bank of America upgraded shares of Haemonetics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.00 to $80.00 in a research report on Friday, May 22nd. BTIG Research lifted their target price on shares of Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors and hedge funds have recently made changes to their positions in HAE. EverSource Wealth Advisors LLC grew its holdings in shares of Haemonetics by 12.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,920 shares of the medical instruments supplier’s stock worth $108,000 after buying an additional 211 shares during the last quarter. Quantinno Capital Management LP increased its position in Haemonetics by 9.0% in the 2nd quarter. Quantinno Capital Management LP now owns 3,492 shares of the medical instruments supplier’s stock valued at $261,000 after acquiring an additional 289 shares during the period. UMB Bank n.a. raised its stake in Haemonetics by 110.9% during the 4th quarter. UMB Bank n.a. now owns 582 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 306 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Haemonetics during the 4th quarter valued at approximately $26,000. Finally, Leonteq Securities AG acquired a new stake in Haemonetics during the 4th quarter worth approximately $30,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Stock Performance

NYSE HAE opened at $103.06 on Monday. The company has a fifty day moving average of $89.38 and a two-hundred day moving average of $72.53. The company has a market capitalization of $4.69 billion, a PE ratio of 50.52, a P/E/G ratio of 2.06 and a beta of 0.54. Haemonetics has a 1 year low of $47.31 and a 1 year high of $109.57. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The business had revenue of $339.38 million for the quarter, compared to analysts’ expectations of $327.86 million. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that Haemonetics will post 5.29 earnings per share for the current year.

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.