Haemonetics Co. (NYSE:HAE) Receives $108.67 Consensus Price Target from Analysts

Shares of Haemonetics Co. (NYSE:HAE) have earned an average recommendation of “Moderate Buy” from the four research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $108.67.

A number of research firms have weighed in on HAE. Barrington Research increased their price objective on Haemonetics from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Haemonetics in a report on Friday, May 10th. StockNews.com cut shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. TheStreet cut shares of Haemonetics from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Finally, JMP Securities lifted their target price on shares of Haemonetics from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Friday, May 10th.

Haemonetics Price Performance

Haemonetics stock opened at $85.81 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 1.50 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $88.93 and a 200-day simple moving average of $83.51. The stock has a market cap of $4.36 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 1.57 and a beta of 0.37. Haemonetics has a 12-month low of $70.74 and a 12-month high of $97.97.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The business had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $329.53 million. Haemonetics had a return on equity of 22.25% and a net margin of 8.98%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Equities analysts expect that Haemonetics will post 4.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Stewart W. Strong sold 8,857 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total transaction of $775,253.21. Following the completion of the sale, the insider now owns 18,196 shares in the company, valued at approximately $1,592,695.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Haemonetics news, insider Stewart W. Strong sold 8,857 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total transaction of $775,253.21. Following the transaction, the insider now owns 18,196 shares in the company, valued at $1,592,695.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stewart W. Strong sold 686 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $95.11, for a total value of $65,245.46. Following the transaction, the insider now directly owns 18,196 shares in the company, valued at $1,730,621.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,380 shares of company stock valued at $2,445,816. 1.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. TFO Wealth Partners LLC increased its stake in Haemonetics by 29,450.0% during the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 589 shares during the last quarter. Group One Trading L.P. acquired a new position in shares of Haemonetics in the 3rd quarter valued at about $55,000. Covestor Ltd grew its position in shares of Haemonetics by 184.8% during the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 438 shares during the last quarter. EntryPoint Capital LLC bought a new position in Haemonetics in the first quarter worth about $86,000. Finally, Parkside Financial Bank & Trust boosted its stake in Haemonetics by 17.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock valued at $90,000 after acquiring an additional 156 shares during the period. Institutional investors own 99.67% of the company’s stock.

About Haemonetics

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.