Haemonetics (NYSE:HAE) Research Coverage Started at Robert W. Baird

Robert W. Baird started coverage on shares of Haemonetics (NYSE:HAE) in a research note published on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $87.00 price target on the medical instruments supplier’s stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reduced their price objective on Haemonetics from $104.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $105.00 price target (down from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Wall Street Zen cut shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, JMP Securities restated a “market outperform” rating and set a $100.00 price objective on shares of Haemonetics in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and a consensus price target of $96.80.

Haemonetics Price Performance

Shares of NYSE HAE opened at $73.97 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average price is $67.81 and its two-hundred day moving average price is $68.17. The company has a market cap of $3.55 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.20 and a beta of 0.36. Haemonetics has a twelve month low of $55.30 and a twelve month high of $94.99.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. The business had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. Haemonetics had a return on equity of 26.37% and a net margin of 12.32%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. On average, analysts predict that Haemonetics will post 4.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC grew its stake in shares of Haemonetics by 5.9% during the first quarter. Inspire Investing LLC now owns 5,441 shares of the medical instruments supplier’s stock worth $346,000 after buying an additional 304 shares during the last quarter. Rhumbline Advisers raised its position in Haemonetics by 1.2% in the first quarter. Rhumbline Advisers now owns 161,123 shares of the medical instruments supplier’s stock valued at $10,239,000 after purchasing an additional 1,861 shares during the last quarter. Strs Ohio bought a new stake in shares of Haemonetics during the first quarter worth about $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Haemonetics by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,138 shares of the medical instruments supplier’s stock worth $9,923,000 after purchasing an additional 9,051 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Haemonetics by 9.1% in the first quarter. Empowered Funds LLC now owns 4,458 shares of the medical instruments supplier’s stock valued at $283,000 after buying an additional 372 shares during the period. Institutional investors own 99.67% of the company’s stock.

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.