Haemonetics Co. (NYSE:HAE) Receives $101.67 Average Target Price from Brokerages

Shares of Haemonetics Co. (NYSE:HAE) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned 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 target among analysts that have updated their coverage on the stock in the last year is $101.67.

HAE has been the subject of several recent analyst reports. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price objective (down from $120.00) on shares of Haemonetics in a report on Friday, February 7th. Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $95.00 to $68.00 in a research report on Friday, February 7th. JPMorgan Chase & Co. started coverage on Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. Needham & Company LLC reduced their target price on Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, StockNews.com downgraded Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday, February 15th.

Haemonetics Trading Down 3.7 %

Haemonetics stock opened at $65.77 on Thursday. The firm has a 50 day simple moving average of $69.15 and a 200-day simple moving average of $75.56. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55. The stock has a market capitalization of $3.30 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.11 and a beta of 0.43. Haemonetics has a 12-month low of $58.80 and a 12-month high of $97.97.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. As a group, equities research analysts expect that Haemonetics will post 4.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HAE. FMR LLC raised its position in Haemonetics by 206.3% during the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock valued at $62,257,000 after buying an additional 521,640 shares during the period. Norges Bank acquired a new position in Haemonetics during the fourth quarter valued at $32,803,000. Wellington Management Group LLP raised its position in Haemonetics by 9.5% during the third quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after buying an additional 363,702 shares during the period. Voya Investment Management LLC raised its position in Haemonetics by 820.5% during the fourth quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier’s stock valued at $24,748,000 after buying an additional 282,521 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Haemonetics by 434.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier’s stock valued at $24,522,000 after buying an additional 255,338 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.