Haemonetics Co. (NYSE:HAE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Haemonetics Co. (NYSE:HAE) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $108.78.

A number of research firms have recently weighed in on HAE. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Friday, November 8th. Bank of America assumed coverage on shares of Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price objective for the company. CL King started coverage on Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective for the company. BTIG Research initiated coverage on Haemonetics in a research note on Tuesday, September 10th. They set a “buy” rating and a $112.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 price target for the company.

Hedge Funds Weigh In On Haemonetics

Several large investors have recently modified their holdings of HAE. Global Alpha Capital Management Ltd. bought a new position in Haemonetics in the 3rd quarter worth approximately $806,000. Loomis Sayles & Co. L P boosted its position in shares of Haemonetics by 8.1% in the third quarter. Loomis Sayles & Co. L P now owns 163,856 shares of the medical instruments supplier’s stock valued at $13,171,000 after acquiring an additional 12,310 shares during the period. BNP Paribas Financial Markets grew its stake in Haemonetics by 174.5% during the third quarter. BNP Paribas Financial Markets now owns 16,949 shares of the medical instruments supplier’s stock valued at $1,362,000 after acquiring an additional 10,774 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Haemonetics by 10.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 823,663 shares of the medical instruments supplier’s stock worth $66,206,000 after acquiring an additional 80,783 shares during the period. Finally, FMR LLC lifted its stake in Haemonetics by 206.3% in the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after purchasing an additional 521,640 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Stock Performance

Shares of HAE stock opened at $75.44 on Friday. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $81.38 and a two-hundred day simple moving average of $81.35. Haemonetics has a 12 month low of $70.25 and a 12 month high of $97.97. The firm has a market capitalization of $3.79 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 1.29 and a beta of 0.38.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company had revenue of $345.50 million during the quarter, compared to the consensus estimate of $342.57 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts forecast that Haemonetics will post 4.59 EPS for the current fiscal year.

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.