Barrington Research Reiterates Outperform Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a research note issued to investors on Friday,Benzinga reports. They currently have a $108.00 target price on the medical instruments supplier’s stock. Barrington Research’s price target would suggest a potential upside of 23.54% from the stock’s current price.

Several other equities research analysts also recently commented on HAE. BTIG Research began coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. CL King initiated coverage on Haemonetics in a report on Friday, September 13th. They set a “buy” rating and a $116.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Haemonetics in a research note on Tuesday, August 13th. Citigroup dropped their target price on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Finally, Bank of America began coverage on shares of Haemonetics in a report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target for the company. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.88.

Haemonetics Price Performance

HAE stock traded up $0.89 on Friday, hitting $87.42. 1,096,763 shares of the company’s stock traded hands, compared to its average volume of 547,029. The company has a current ratio of 3.76, a quick ratio of 2.33 and a debt-to-equity ratio of 1.35. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 1.15 and a beta of 0.32. Haemonetics has a 1-year low of $70.25 and a 1-year high of $97.97. The stock has a fifty day moving average of $75.42 and a 200-day moving average of $82.60.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating the consensus estimate of $1.09 by $0.03. The business had revenue of $345.50 million during the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. Haemonetics’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. On average, analysts forecast that Haemonetics will post 4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Several institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors increased its holdings in shares of Haemonetics by 2.3% during the 1st quarter. Capital Research Global Investors now owns 6,674,751 shares of the medical instruments supplier’s stock valued at $569,690,000 after acquiring an additional 151,183 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Haemonetics by 2.6% in the third quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier’s stock worth $97,304,000 after buying an additional 30,868 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Haemonetics by 29.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock worth $88,433,000 after buying an additional 250,833 shares during the period. Dimensional Fund Advisors LP grew its stake in Haemonetics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock valued at $80,972,000 after buying an additional 57,665 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in Haemonetics by 13.8% during the 3rd quarter. Boston Trust Walden Corp now owns 809,608 shares of the medical instruments supplier’s stock worth $65,076,000 after acquiring an additional 98,019 shares during the last quarter. 99.67% of the stock is currently owned by 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.