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

Haemonetics Co. (NYSE:HAE) has been assigned a consensus recommendation of “Moderate Buy” from the four brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $109.50.

HAE has been the subject of a number of analyst reports. JMP Securities boosted their target price on shares of Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Friday, May 10th. StockNews.com downgraded Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Barrington Research boosted their target price on Haemonetics from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Needham & Company LLC upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Wednesday, June 12th.

Haemonetics Price Performance

Shares of NYSE HAE opened at $84.18 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 1.51 and a beta of 0.29. The stock’s 50-day moving average is $88.80 and its two-hundred day moving average is $83.56. Haemonetics has a 1-year low of $70.74 and a 1-year high of $97.97.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $329.53 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Haemonetics will post 4.57 EPS for the current fiscal year.

Insider Activity

In related news, insider Stewart W. Strong sold 8,857 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total transaction of $775,253.21. Following the transaction, the insider now owns 18,196 shares in the company, valued at approximately $1,592,695.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Stewart W. Strong sold 8,857 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $87.53, for a total transaction of $775,253.21. Following the completion of the sale, the insider now owns 18,196 shares in the company, valued at approximately $1,592,695.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stewart W. Strong sold 686 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $95.11, for a total transaction of $65,245.46. Following the transaction, the insider now directly owns 18,196 shares in the company, valued at $1,730,621.56. The disclosure for this sale can be found here. In the last three months, insiders sold 27,380 shares of company stock valued at $2,445,816. Insiders own 1.80% of the company’s stock.

Institutional Trading of Haemonetics

Hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its stake in shares of Haemonetics by 2.3% during the first quarter. Capital Research Global Investors now owns 6,674,751 shares of the medical instruments supplier’s stock worth $569,690,000 after purchasing an additional 151,183 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Haemonetics by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,406,309 shares of the medical instruments supplier’s stock worth $462,293,000 after acquiring an additional 25,451 shares during the period. Wellington Management Group LLP lifted its stake in shares of Haemonetics by 3.2% in the 4th quarter. Wellington Management Group LLP now owns 3,268,083 shares of the medical instruments supplier’s stock worth $279,454,000 after acquiring an additional 101,029 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Haemonetics by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 826,731 shares of the medical instruments supplier’s stock valued at $70,697,000 after acquiring an additional 59,670 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of Haemonetics by 27.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after acquiring an additional 152,098 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

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.