Barrington Research Reaffirms Outperform Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reissued by equities researchers at Barrington Research in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $108.00 price target on the medical instruments supplier’s stock. Barrington Research’s price target points to a potential upside of 33.90% from the company’s current price.

Several other equities analysts have also commented on HAE. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a research report on Tuesday, August 13th. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $112.00 price objective on shares of Haemonetics in a report on Tuesday. Bank of America started coverage on Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price objective for the company. Finally, CL King assumed coverage on Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 price target on the stock. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Haemonetics has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $80.66 on Wednesday. The company has a market capitalization of $4.05 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 1.32 and a beta of 0.38. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. Haemonetics has a fifty-two week low of $70.25 and a fifty-two week high of $97.97. The company’s 50-day moving average is $80.65 and its 200 day moving average is $81.93.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating the consensus estimate of $1.09 by $0.03. The business had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, equities research analysts forecast that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Haemonetics during the second quarter worth about $39,000. Daiwa Securities Group Inc. acquired a new stake in Haemonetics in the second quarter valued at approximately $82,000. Canada Pension Plan Investment Board purchased a new stake in Haemonetics in the 2nd quarter worth $83,000. Nisa Investment Advisors LLC increased its stake in shares of Haemonetics by 124.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 632 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Haemonetics during the 2nd quarter worth approximately $140,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.