Haemonetics (NYSE:HAE) Price Target Cut to $64.00 by Analysts at Citigroup

Haemonetics (NYSE:HAE) had its price target reduced by Citigroup from $78.00 to $64.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other analysts have also recently weighed in on HAE. Baird R W raised shares of Haemonetics to a “strong-buy” rating in a report on Wednesday, June 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Haemonetics in a report on Saturday, September 27th. Raymond James Financial cut shares of Haemonetics from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $105.00 to $78.00 in a report on Monday, August 11th. Robert W. Baird started coverage on shares of Haemonetics in a report on Thursday, June 26th. They set an “outperform” rating and a $87.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $68.00 target price (down from $84.00) on shares of Haemonetics in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Haemonetics presently has an average rating of “Moderate Buy” and an average target price of $75.89.

Haemonetics Stock Down 0.6%

HAE stock opened at $49.27 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. Haemonetics has a twelve month low of $47.31 and a twelve month high of $94.99. The company’s 50 day moving average is $55.16 and its two-hundred day moving average is $63.47. The stock has a market cap of $2.37 billion, a P/E ratio of 15.07, a PEG ratio of 0.91 and a beta of 0.37.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The company had revenue of $321.39 million for the quarter, compared to analysts’ expectations of $305.12 million. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. Research analysts expect that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Several institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its position in shares of Haemonetics by 11.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,461 shares of the medical instruments supplier’s stock worth $109,000 after purchasing an additional 152 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Haemonetics by 59.4% during the 2nd quarter. GAMMA Investing LLC now owns 443 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. Quarry LP boosted its position in shares of Haemonetics by 63.4% during the 1st quarter. Quarry LP now owns 495 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 192 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Haemonetics by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the medical instruments supplier’s stock worth $896,000 after purchasing an additional 200 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of Haemonetics by 3.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 6,216 shares of the medical instruments supplier’s stock worth $464,000 after purchasing an additional 214 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.