Haemonetics (NYSE:HAE) Earns Neutral Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of Haemonetics (NYSE:HAE) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $85.00 price target on the medical instruments supplier’s stock.

HAE has been the subject of a number of other reports. BTIG Research assumed coverage on Haemonetics in a research report on Tuesday. They issued a buy rating and a $112.00 target price for the company. Barrington Research lifted their price target on Haemonetics from $107.00 to $108.00 and gave the company an outperform rating in a research report on Friday, August 9th. Citigroup reduced their price target on Haemonetics from $94.00 to $85.00 and set a neutral rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC upgraded Haemonetics from a hold rating to a buy rating and set a $112.00 price target for the company in a research report on Wednesday, June 12th. Finally, JMP Securities reiterated a market outperform rating and issued a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $106.14.

Haemonetics Stock Performance

NYSE:HAE opened at $76.09 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. The business has a fifty day simple moving average of $81.38 and a two-hundred day simple moving average of $83.89. Haemonetics has a 1 year low of $70.74 and a 1 year high of $97.97. The company has a market capitalization of $3.89 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.32 and a beta of 0.30.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The firm had revenue of $336.17 million during the quarter, compared to analysts’ expectations of $335.08 million. During the same period in the prior year, the business earned $1.05 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts expect that Haemonetics will post 4.58 earnings per share for the current year.

Insider Activity at Haemonetics

In related news, insider Stewart W. Strong sold 4,312 shares of Haemonetics stock in a transaction on Friday, July 26th. The stock was sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the sale, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Haemonetics news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $90.00, for a total transaction of $192,240.00. Following the completion of the sale, the executive vice president now owns 21,410 shares of the company’s stock, valued at $1,926,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stewart W. Strong sold 4,312 shares of Haemonetics stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $91.15, for a total value of $393,038.80. Following the sale, the insider now directly owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Haemonetics

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its stake in Haemonetics by 178.3% during the second quarter. Point72 Asset Management L.P. now owns 219,024 shares of the medical instruments supplier’s stock worth $18,120,000 after purchasing an additional 140,324 shares during the last quarter. Quarry LP purchased a new position in shares of Haemonetics in the second quarter worth about $39,000. Creative Planning purchased a new position in shares of Haemonetics in the second quarter worth about $368,000. The Manufacturers Life Insurance Company increased its holdings in shares of Haemonetics by 327.0% in the second quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock worth $25,445,000 after buying an additional 235,535 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Haemonetics in the second quarter worth about $499,000. Institutional investors own 99.67% of the company’s stock.

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.