Haemonetics Co. (NYSE:HAE) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $117.75.
HAE has been the subject of several research analyst reports. Zacks Investment Research downgraded Haemonetics from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Barrington Research reissued an “outperform” rating and issued a $116.00 price objective (up from $112.00) on shares of Haemonetics in a research note on Wednesday, May 8th. TheStreet raised Haemonetics from a “c+” rating to a “b-” rating in a research note on Tuesday, May 7th. Finally, Raymond James raised Haemonetics from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Tuesday, May 14th.
Shares of NYSE:HAE traded up $0.33 during midday trading on Tuesday, reaching $112.11. The company had a trading volume of 416,991 shares, compared to its average volume of 474,584. The company has a quick ratio of 1.62, a current ratio of 2.44 and a debt-to-equity ratio of 0.48. Haemonetics has a 1-year low of $80.24 and a 1-year high of $117.56. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 2.84 and a beta of 0.67.
In other news, CFO William P. Mr. Burke sold 411 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $103.38, for a total transaction of $42,489.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Simon sold 57,587 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $94.51, for a total value of $5,442,547.37. The disclosure for this sale can be found here. Insiders have sold a total of 100,306 shares of company stock valued at $9,720,660 over the last ninety days. Company insiders own 1.04% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan acquired a new position in shares of Haemonetics during the 4th quarter valued at about $1,243,000. Quadrant Capital Group LLC increased its holdings in shares of Haemonetics by 708.8% during the 1st quarter. Quadrant Capital Group LLC now owns 647 shares of the medical instruments supplier’s stock valued at $54,000 after acquiring an additional 567 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Haemonetics during the 4th quarter valued at about $4,585,000. California State Teachers Retirement System increased its holdings in shares of Haemonetics by 2.4% during the 4th quarter. California State Teachers Retirement System now owns 81,407 shares of the medical instruments supplier’s stock valued at $8,145,000 after acquiring an additional 1,899 shares during the last quarter. Finally, Vanguard Group Inc increased its holdings in shares of Haemonetics by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 5,619,707 shares of the medical instruments supplier’s stock valued at $643,906,000 after acquiring an additional 107,357 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.
Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.
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