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

Shares of Haemonetics Co. (NYSE:HAE) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $108.78.

Several research analysts recently commented on the stock. Barrington Research reiterated an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $112.00 price target on shares of Haemonetics in a research report on Tuesday, December 3rd. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. initiated coverage on Haemonetics in a research note on Friday, December 6th. They set an “overweight” rating and a $116.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HAE. Wellington Management Group LLP boosted its position in Haemonetics by 9.5% in the third quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after buying an additional 363,702 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Haemonetics by 2.6% in the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier’s stock valued at $97,304,000 after acquiring an additional 30,868 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Haemonetics by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock worth $95,986,000 after acquiring an additional 21,547 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Haemonetics by 29.5% during the third quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock worth $88,433,000 after purchasing an additional 250,833 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Haemonetics by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock valued at $80,972,000 after purchasing an additional 57,665 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Stock Up 2.5 %

Haemonetics stock opened at $75.31 on Wednesday. Haemonetics has a twelve month low of $69.29 and a twelve month high of $97.97. The business has a fifty day moving average of $81.71 and a two-hundred day moving average of $80.16. The firm has a market cap of $3.78 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.14 and a beta of 0.41. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39.

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