Haemonetics (NYSE:HAE) Price Target Raised to $78.00

Haemonetics (NYSE:HAE) had its target price lifted by Needham & Company LLC from $68.00 to $78.00 in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier’s stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $62.00 target price (down previously from $85.00) on shares of Haemonetics in a research report on Friday, August 8th. Mizuho dropped their price objective on shares of Haemonetics from $90.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Citigroup cut their price objective on shares of Haemonetics from $78.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. BTIG Research boosted their target price on shares of Haemonetics from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $86.00 price target on shares of Haemonetics in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Haemonetics Stock Performance

Shares of NYSE HAE traded up $2.55 during midday trading on Friday, reaching $70.91. The company had a trading volume of 529,196 shares, compared to its average volume of 847,308. Haemonetics has a 1 year low of $47.31 and a 1 year high of $94.99. The business’s 50-day simple moving average is $51.53 and its 200 day simple moving average is $62.13. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. The stock has a market cap of $3.42 billion, a P/E ratio of 21.68, a P/E/G ratio of 0.91 and a beta of 0.43.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.15. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%.The firm had revenue of $327.32 million for the quarter, compared to the consensus estimate of $311.61 million. During the same period in the prior year, the firm earned $1.12 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. Haemonetics has set its FY 2026 guidance at 4.800-5.00 EPS. On average, analysts forecast that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently modified their holdings of the business. Isthmus Partners LLC raised its holdings in Haemonetics by 36.5% in the 3rd quarter. Isthmus Partners LLC now owns 61,702 shares of the medical instruments supplier’s stock worth $3,007,000 after purchasing an additional 16,505 shares during the period. CenterBook Partners LP purchased a new stake in shares of Haemonetics in the third quarter valued at approximately $324,000. May Hill Capital LLC raised its stake in shares of Haemonetics by 24.7% during the 3rd quarter. May Hill Capital LLC now owns 22,348 shares of the medical instruments supplier’s stock worth $1,089,000 after buying an additional 4,431 shares during the period. GSA Capital Partners LLP acquired a new stake in Haemonetics in the 3rd quarter valued at $618,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in Haemonetics by 38.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 39,405 shares of the medical instruments supplier’s stock worth $1,921,000 after acquiring an additional 10,937 shares in the last quarter. 99.67% of the stock is currently 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.