Haemonetics (HAE) Price Target Raised to $75.00 at Jefferies Group

Haemonetics (NYSE:HAE) had its target price upped by equities researchers at Jefferies Group from $18.00 to $75.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Jefferies Group’s price objective points to a potential upside of 18.32% from the company’s previous close. Jefferies Group also issued estimates for Haemonetics’ Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.66 EPS, FY2019 earnings at $2.00 EPS, FY2020 earnings at $2.80 EPS, FY2021 earnings at $3.75 EPS and FY2022 earnings at $4.35 EPS.

A number of other brokerages have also issued reports on HAE. Raymond James Financial upgraded Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Morgan Stanley upgraded Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a research report on Tuesday, January 2nd. Zacks Investment Research lowered Haemonetics from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. Craig Hallum reiterated a “hold” rating and set a $50.00 price target (up previously from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Finally, Barrington Research boosted their price target on Haemonetics from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Haemonetics has an average rating of “Hold” and an average price target of $58.83.

Haemonetics (NYSE:HAE) traded up $0.76 during trading hours on Monday, reaching $63.39. The company had a trading volume of 426,800 shares, compared to its average volume of 577,950. Haemonetics has a twelve month low of $36.44 and a twelve month high of $63.90. The firm has a market cap of $3,350.00, a price-to-earnings ratio of 905.57, a P/E/G ratio of 4.71 and a beta of 0.99. The company has a quick ratio of 1.51, a current ratio of 2.17 and a debt-to-equity ratio of 0.22.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. Haemonetics had a return on equity of 11.16% and a net margin of 0.50%. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $219.12 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. sell-side analysts forecast that Haemonetics will post 1.7 EPS for the current fiscal year.

In other news, Director Ronald G. Gelbman sold 5,440 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $56.69, for a total value of $308,393.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dan Goldstein sold 4,691 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $54.93, for a total value of $257,676.63. Following the completion of the sale, the chief accounting officer now owns 3,747 shares of the company’s stock, valued at approximately $205,822.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,486 shares of company stock valued at $3,050,827. Insiders own 1.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in HAE. Victory Capital Management Inc. lifted its holdings in shares of Haemonetics by 18.7% in the third quarter. Victory Capital Management Inc. now owns 2,414,526 shares of the medical instruments supplier’s stock valued at $108,340,000 after buying an additional 381,012 shares during the period. HealthCor Management L.P. lifted its holdings in shares of Haemonetics by 15.9% in the second quarter. HealthCor Management L.P. now owns 1,854,872 shares of the medical instruments supplier’s stock valued at $73,249,000 after buying an additional 254,872 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Haemonetics by 9.3% in the second quarter. Wells Fargo & Company MN now owns 2,788,122 shares of the medical instruments supplier’s stock valued at $110,104,000 after buying an additional 238,294 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Haemonetics by 10.2% in the third quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock valued at $92,139,000 after buying an additional 189,797 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Haemonetics in the second quarter valued at $6,115,000.

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Haemonetics Company Profile

Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.

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