Haemonetics (NYSE:HAE) Upgraded at Baird R W

Baird R W upgraded shares of Haemonetics (NYSE:HAE) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on HAE. Robert W. Baird began coverage on shares of Haemonetics in a research report on Thursday. They issued an “outperform” rating and a $87.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $100.00 target price on shares of Haemonetics in a research report on Tuesday, May 20th. Needham & Company LLC decreased their target price on shares of Haemonetics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Wall Street Zen cut shares of Haemonetics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.

Haemonetics Stock Performance

Haemonetics stock opened at $73.97 on Wednesday. The firm’s fifty day moving average price is $67.81 and its 200-day moving average price is $68.27. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.99 and a current ratio of 1.62. The stock has a market cap of $3.55 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.21 and a beta of 0.36. Haemonetics has a fifty-two week low of $55.30 and a fifty-two week high of $94.99.

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

Institutional Investors Weigh In On Haemonetics

A number of large investors have recently added to or reduced their stakes in HAE. Principal Financial Group Inc. grew its holdings in Haemonetics by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 156,734 shares of the medical instruments supplier’s stock worth $12,238,000 after acquiring an additional 1,475 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Haemonetics by 25.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after acquiring an additional 240 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Haemonetics by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 711,774 shares of the medical instruments supplier’s stock worth $55,575,000 after acquiring an additional 22,265 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Haemonetics by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 551,193 shares of the medical instruments supplier’s stock worth $43,037,000 after acquiring an additional 8,477 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Haemonetics by 1.2% in the 4th quarter. Arizona State Retirement System now owns 14,853 shares of the medical instruments supplier’s stock worth $1,160,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

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.