Haemonetics Co. (NYSE:HAE) Receives $117.75 Consensus Price Target from Analysts

Shares of Haemonetics Co. (NYSE:HAE) have earned an average recommendation of “Buy” from the seven analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $121.50.

Several research firms have recently commented on HAE. Barrington Research reissued an “outperform” rating and issued a $116.00 price target (up from $112.00) on shares of Haemonetics in a research report on Wednesday, May 8th. TheStreet raised Haemonetics from a “c+” rating to a “b-” rating in a research report on Tuesday, May 7th. Zacks Investment Research raised Haemonetics from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Jefferies Financial Group boosted their price target on Haemonetics from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James raised Haemonetics from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Tuesday, May 14th.

HAE opened at $121.58 on Wednesday. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 50.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.82. The company has a current ratio of 2.44, a quick ratio of 1.62 and a debt-to-equity ratio of 0.48. Haemonetics has a 12 month low of $80.24 and a 12 month high of $125.66. The stock has a fifty day moving average of $120.16.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. The firm had revenue of $249.30 million during the quarter, compared to analyst estimates of $250.62 million. Haemonetics had a return on equity of 18.88% and a net margin of 5.69%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. On average, research analysts forecast that Haemonetics will post 2.93 earnings per share for the current fiscal year.

In other Haemonetics news, CEO Christopher Simon sold 57,587 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $94.51, for a total transaction of $5,442,547.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO William P. Mr. Burke sold 411 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $103.38, for a total value of $42,489.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,754 shares of company stock worth $10,455,709. 1.32% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of HAE. Norges Bank purchased a new stake in Haemonetics during the 4th quarter valued at about $80,411,000. BlackRock Inc. grew its stake in Haemonetics by 5.9% during the 1st quarter. BlackRock Inc. now owns 6,385,237 shares of the medical instruments supplier’s stock valued at $558,580,000 after purchasing an additional 358,431 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Haemonetics by 14.2% during the 1st quarter. Neuberger Berman Group LLC now owns 1,625,242 shares of the medical instruments supplier’s stock valued at $142,176,000 after purchasing an additional 202,406 shares during the last quarter. Jackson Square Partners LLC grew its stake in Haemonetics by 12.8% during the 1st quarter. Jackson Square Partners LLC now owns 1,655,676 shares of the medical instruments supplier’s stock valued at $144,838,000 after purchasing an additional 187,950 shares during the last quarter. Finally, Ellis Investment Partners LLC purchased a new stake in Haemonetics during the 1st quarter valued at about $79,000. Institutional investors and hedge funds own 98.64% of the company’s stock.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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