Haemonetics (NYSE:HAE) Hits New 52-Week High – Here’s Why

Haemonetics Corporation (NYSE:HAE) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $87.49 and last traded at $88.4750, with a volume of 21549 shares trading hands. The stock had previously closed at $85.54.

Wall Street Analysts Forecast Growth

HAE has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Haemonetics in a report on Wednesday, July 29th. Mizuho increased their target price on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Haemonetics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. BTIG Research reissued a “buy” rating and issued a $84.00 price target on shares of Haemonetics in a research report on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.89.

Haemonetics Stock Performance

The company has a debt-to-equity ratio of 1.53, a current ratio of 2.95 and a quick ratio of 1.87. The stock has a 50 day simple moving average of $75.90 and a two-hundred day simple moving average of $66.21. The company has a market cap of $3.88 billion, a PE ratio of 42.26, a PEG ratio of 1.75 and a beta of 0.52.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, May 7th. The medical instruments supplier reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $346.35 million for the quarter, compared to analyst estimates of $336.83 million. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. Equities analysts predict that Haemonetics Corporation will post 5.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HAE. Kemnay Advisory Services Inc. acquired a new stake in shares of Haemonetics during the fourth quarter worth about $26,000. Leonteq Securities AG acquired a new position in Haemonetics in the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its position in Haemonetics by 2,640.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock valued at $31,000 after acquiring an additional 396 shares during the period. Kestra Advisory Services LLC purchased a new stake in Haemonetics during the 4th quarter valued at approximately $34,000. Finally, Bayforest Capital Ltd purchased a new stake in Haemonetics during the 4th quarter valued at approximately $40,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Company Profile

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.