Haemonetics (NYSE:HAE) Coverage Initiated by Analysts at Robert W. Baird

Robert W. Baird assumed coverage on shares of Haemonetics (NYSE:HAE) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $87.00 price objective on the medical instruments supplier’s stock.

Several other equities research analysts have also recently issued reports on HAE. Raymond James Financial restated a “strong-buy” rating and issued a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a report on Friday, May 9th. Needham & Company LLC dropped their price target on Haemonetics from $104.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 price objective on shares of Haemonetics in a report on Tuesday, May 20th. Finally, Wall Street Zen cut Haemonetics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.80.

Haemonetics Stock Up 1.9%

HAE stock opened at $74.81 on Thursday. The stock has a market capitalization of $3.59 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.19 and a beta of 0.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.62 and a quick ratio of 0.99. Haemonetics has a 1-year low of $55.30 and a 1-year high of $94.99. The business has a fifty day moving average price of $67.47 and a 200-day moving average price of $68.34.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. The company had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. Haemonetics’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS. Equities analysts forecast that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its stake in shares of Haemonetics by 14.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier’s stock worth $98,716,000 after buying an additional 164,111 shares during the period. Royce & Associates LP grew its stake in shares of Haemonetics by 0.7% during the 1st quarter. Royce & Associates LP now owns 1,161,296 shares of the medical instruments supplier’s stock valued at $73,800,000 after acquiring an additional 8,028 shares during the period. Boston Trust Walden Corp increased its holdings in Haemonetics by 22.1% in the 1st quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier’s stock worth $71,070,000 after acquiring an additional 202,609 shares in the last quarter. Royal Bank of Canada raised its stake in Haemonetics by 2.3% during the 1st quarter. Royal Bank of Canada now owns 1,075,604 shares of the medical instruments supplier’s stock worth $68,355,000 after acquiring an additional 24,650 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Haemonetics by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier’s stock worth $77,470,000 after acquiring an additional 10,990 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.