Analysts Set Haemonetics Co. (NYSE:HAE) PT at $104.50

Haemonetics Co. (NYSE:HAE) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $106.14.

A number of equities research analysts recently issued reports on the company. BTIG Research assumed coverage on Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price on the stock. Bank of America initiated coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research note on Tuesday, August 13th. Citigroup reduced their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Finally, CL King initiated coverage on Haemonetics in a research note on Friday. They set a “buy” rating and a $116.00 price target on the stock.

Haemonetics Stock Performance

HAE opened at $76.70 on Thursday. The stock has a market cap of $3.91 billion, a P/E ratio of 33.49, a P/E/G ratio of 1.32 and a beta of 0.30. 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 stock’s 50 day simple moving average is $81.20 and its 200 day simple moving average is $84.05. Haemonetics has a 1-year low of $70.74 and a 1-year high of $97.97.

Haemonetics (NYSE:HAE) last posted 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 net margin of 8.61% and a return on equity of 21.86%. The company had revenue of $336.17 million during the quarter, compared to analysts’ expectations of $335.08 million. During the same period in the previous year, the company posted $1.05 EPS. Haemonetics’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Haemonetics will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Haemonetics

Large investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Haemonetics in the 2nd quarter valued at $39,000. TFO Wealth Partners LLC grew its stake in shares of Haemonetics by 29,450.0% during the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 589 shares in the last quarter. Covestor Ltd grew its stake in shares of Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 438 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Haemonetics during the second quarter valued at about $82,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Haemonetics during the second quarter valued at about $83,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.