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

Shares of Haemonetics Co. (NYSE:HAE) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $97.89.

A number of analysts have recently weighed in on HAE shares. Barrington Research lowered their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Bank of America cut Haemonetics from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $68.00 in a research note on Friday, February 7th. JMP Securities decreased their target price on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research report on Friday, February 7th. StockNews.com cut shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Needham & Company LLC decreased their price target on shares of Haemonetics from $104.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors and hedge funds have recently made changes to their positions in HAE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Haemonetics by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,138 shares of the medical instruments supplier’s stock valued at $9,923,000 after purchasing an additional 9,051 shares during the period. Empowered Funds LLC increased its position in shares of Haemonetics by 9.1% during the first quarter. Empowered Funds LLC now owns 4,458 shares of the medical instruments supplier’s stock valued at $283,000 after buying an additional 372 shares during the period. United Services Automobile Association bought a new position in shares of Haemonetics during the first quarter valued at approximately $212,000. Caxton Associates LLP purchased a new position in shares of Haemonetics in the 1st quarter worth about $216,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Haemonetics in the 1st quarter worth $468,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Stock Down 1.3%

HAE stock opened at $69.39 on Tuesday. The company has a market capitalization of $3.49 billion, a P/E ratio of 27.32, a PEG ratio of 1.11 and a beta of 0.32. The firm has a 50 day simple moving average of $62.99 and a 200-day simple moving average of $71.20. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. Haemonetics has a twelve month low of $55.30 and a twelve month high of $95.53.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The business had revenue of $330.60 million for the quarter, compared to analysts’ expectations of $329.38 million. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities research analysts predict that Haemonetics will post 4.55 earnings per share for the current fiscal year.

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.