Haemonetics Co. (NYSE:HAE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Haemonetics Co. (NYSE:HAE) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $106.14.

Several research analysts have recently issued reports on the stock. CL King assumed coverage on shares of Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price for the company. Citigroup lowered their target price on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. BTIG Research assumed coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target for the company. Barrington Research reiterated an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a research report on Monday, September 23rd. Finally, Bank of America assumed coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price target for the company.

Insiders Place Their Bets

In other Haemonetics news, insider Stewart W. Strong sold 4,312 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares in the company, valued at approximately $1,658,565.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Trading of Haemonetics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Haemonetics in the second quarter valued at about $39,000. Covestor Ltd lifted its stake in shares of Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after purchasing an additional 438 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Haemonetics in the second quarter valued at about $82,000. Canada Pension Plan Investment Board acquired a new stake in shares of Haemonetics in the second quarter valued at about $83,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Haemonetics in the first quarter valued at about $86,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Trading Up 0.7 %

NYSE HAE opened at $74.97 on Monday. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. Haemonetics has a 52 week low of $70.74 and a 52 week high of $97.97. The stock has a market capitalization of $3.82 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.19 and a beta of 0.30. The firm has a 50 day moving average of $76.33 and a two-hundred day moving average of $83.88.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The company had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. During the same quarter in the previous year, the company posted $1.05 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that Haemonetics will post 4.57 EPS for the current fiscal 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.