Haemonetics (NYSE:HAE) Price Target Cut to $85.00 by Analysts at Citigroup

Haemonetics (NYSE:HAE) had its target price trimmed by Citigroup from $94.00 to $85.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the medical instruments supplier’s stock.

Several other equities analysts also recently commented on HAE. JMP Securities reissued a market outperform rating and issued a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. Barrington Research raised their price target on Haemonetics from $107.00 to $108.00 and gave the stock an outperform rating in a research report on Friday, August 9th. Finally, Needham & Company LLC raised shares of Haemonetics from a hold rating to a buy rating and set a $112.00 price objective for the company in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $107.50.

Haemonetics Stock Performance

Shares of HAE opened at $75.50 on Thursday. Haemonetics has a 52 week low of $70.74 and a 52 week high of $97.97. The company has a quick ratio of 1.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.83. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.64 and a beta of 0.29. The business has a 50-day simple moving average of $84.41 and a two-hundred day simple moving average of $83.79.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.01). The firm had revenue of $336.17 million for the quarter, compared to analysts’ expectations of $335.08 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. Haemonetics’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. On average, analysts expect that Haemonetics will post 4.57 EPS for the current year.

Insider Transactions at Haemonetics

In related news, insider Stewart W. Strong sold 4,312 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $91.15, for a total value of $393,038.80. Following the completion of the sale, the insider now directly owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $91.15, for a total value of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anila Lingamneni sold 2,136 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $90.00, for a total value of $192,240.00. Following the sale, the executive vice president now owns 21,410 shares of the company’s stock, valued at approximately $1,926,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,295 shares of company stock worth $2,504,691. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Haemonetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAE. Westfield Capital Management Co. LP boosted its stake in Haemonetics by 27.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock valued at $60,888,000 after acquiring an additional 152,098 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Haemonetics by 14.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 191,253 shares of the medical instruments supplier’s stock worth $16,354,000 after acquiring an additional 24,394 shares during the last quarter. Isthmus Partners LLC acquired a new position in shares of Haemonetics during the fourth quarter valued at about $1,530,000. Dynamic Technology Lab Private Ltd acquired a new stake in Haemonetics in the 4th quarter worth approximately $888,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Haemonetics during the 4th quarter worth approximately $2,039,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Company Profile

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.