Haemonetics Co. (NYSE:HAE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Haemonetics Co. (NYSE:HAE) have been assigned a consensus rating of “Moderate Buy” from the four research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $109.50.

A number of equities analysts have recently commented on HAE shares. Barrington Research raised their target price on shares of 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 raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Wednesday, June 12th. Finally, JMP Securities raised their target price on shares of Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Friday, May 10th.

Insider Activity at Haemonetics

In related news, EVP Anila Lingamneni sold 2,305 shares of Haemonetics stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $95.00, for a total transaction of $218,975.00. Following the transaction, the executive vice president now directly owns 12,295 shares of the company’s stock, valued at $1,168,025. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Anila Lingamneni sold 2,305 shares of Haemonetics stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $95.00, for a total transaction of $218,975.00. Following the transaction, the executive vice president now directly owns 12,295 shares of the company’s stock, valued at $1,168,025. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stewart W. Strong sold 733 shares of Haemonetics stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $96.04, for a total transaction of $70,397.32. Following the transaction, the insider now directly owns 15,608 shares in the company, valued at $1,498,992.32. The disclosure for this sale can be found here. Insiders have sold a total of 33,828 shares of company stock valued at $3,031,095 over the last ninety days. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Haemonetics

Several institutional investors and hedge funds have recently bought and sold shares of HAE. Westfield Capital Management Co. LP lifted its stake in shares of Haemonetics by 27.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after buying an additional 152,098 shares during the period. Goldman Sachs Group Inc. lifted its position in Haemonetics by 14.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 191,253 shares of the medical instruments supplier’s stock valued at $16,354,000 after purchasing an additional 24,394 shares during the period. Isthmus Partners LLC acquired a new position in Haemonetics during the fourth quarter valued at $1,530,000. Dynamic Technology Lab Private Ltd acquired a new position in Haemonetics during the fourth quarter valued at $888,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Haemonetics in the fourth quarter valued at $2,039,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Stock Down 0.9 %

Shares of NYSE HAE opened at $88.93 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50. The company has a market cap of $4.53 billion, a P/E ratio of 38.83, a PEG ratio of 1.66 and a beta of 0.29. Haemonetics has a 1 year low of $70.74 and a 1 year high of $97.97. The firm has a 50-day simple moving average of $86.88 and a two-hundred day simple moving average of $84.04.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.02. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $329.53 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Research analysts anticipate that Haemonetics will post 4.57 earnings per share for the current year.

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.