Barrington Research Reaffirms “Hold” Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “hold” rating restated by Barrington Research in a report issued on Tuesday, reports.

A number of other analysts also recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Haemonetics from $138.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Needham & Company LLC reissued a “buy” rating and set a $119.00 price objective on shares of Haemonetics in a research note on Tuesday, August 4th. Finally, Raymond James raised their price objective on Haemonetics from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Haemonetics presently has an average rating of “Buy” and a consensus price target of $117.50.

NYSE HAE traded down $3.24 during trading on Tuesday, hitting $86.26. 353,500 shares of the stock traded hands, compared to its average volume of 604,282. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.49. Haemonetics has a 12-month low of $63.41 and a 12-month high of $132.73. The firm has a 50-day simple moving average of $86.54 and a 200-day simple moving average of $95.66. The company has a market capitalization of $4.54 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 3.68 and a beta of 0.60.

Haemonetics (NYSE:HAE) last posted its earnings results on Tuesday, August 4th. The medical instruments supplier reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Haemonetics had a return on equity of 25.98% and a net margin of 10.10%. The firm had revenue of $195.60 million during the quarter, compared to the consensus estimate of $198.27 million. During the same period in the prior year, the company earned $0.81 EPS. The company’s quarterly revenue was down 18.0% compared to the same quarter last year. As a group, research analysts predict that Haemonetics will post 2.41 EPS for the current fiscal year.

In related news, CEO Christopher Simon sold 5,084 shares of Haemonetics stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $87.79, for a total transaction of $446,324.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.63% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HAE. Schonfeld Strategic Advisors LLC grew its position in Haemonetics by 463.4% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 15,211 shares of the medical instruments supplier’s stock valued at $1,362,000 after acquiring an additional 12,511 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Haemonetics by 0.6% during the second quarter. Principal Financial Group Inc. now owns 158,777 shares of the medical instruments supplier’s stock valued at $14,220,000 after purchasing an additional 927 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Haemonetics during the second quarter valued at $27,000. Neuberger Berman Group LLC grew its holdings in shares of Haemonetics by 16.6% in the second quarter. Neuberger Berman Group LLC now owns 3,101,345 shares of the medical instruments supplier’s stock worth $277,693,000 after purchasing an additional 442,388 shares during the last quarter. Finally, AdvisorNet Financial Inc purchased a new position in Haemonetics in the 2nd quarter worth about $81,000. Hedge funds and other institutional investors own 96.33% of the company’s stock.

Haemonetics Company Profile

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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Analyst Recommendations for Haemonetics (NYSE:HAE)

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