Haemonetics (NYSE:HAE) Price Target Raised to $110.00 at BTIG Research

Haemonetics (NYSE:HAE) had its target price lifted by equities research analysts at BTIG Research from $96.00 to $110.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s target price suggests a potential upside of 6.48% from the stock’s previous close.

A number of other equities research analysts have also recently commented on HAE. Mizuho raised their price target on shares of Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Raymond James Financial reissued an “outperform” rating and set a $105.00 price objective on shares of Haemonetics in a research report on Friday, August 7th. Weiss Ratings upgraded Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Barrington Research set a $95.00 target price on Haemonetics in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.44.

Haemonetics Trading Up 14.4%

HAE traded up $13.04 during trading on Tuesday, hitting $103.31. The company’s stock had a trading volume of 391,951 shares, compared to its average volume of 842,434. The firm has a market capitalization of $4.70 billion, a P/E ratio of 50.44, a PEG ratio of 1.82 and a beta of 0.52. Haemonetics has a twelve month low of $47.31 and a twelve month high of $105.85. The stock’s fifty day moving average price is $79.39 and its 200-day moving average price is $67.33. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. The company had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. Analysts anticipate that Haemonetics will post 5.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Haemonetics by 3.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,541 shares of the medical instruments supplier’s stock worth $1,877,000 after acquiring an additional 971 shares in the last quarter. Caxton Associates LLP bought a new position in Haemonetics in the 1st quarter valued at about $216,000. United Services Automobile Association bought a new position in Haemonetics in the 1st quarter valued at about $212,000. Empowered Funds LLC lifted its position in Haemonetics by 9.1% in the 1st quarter. Empowered Funds LLC now owns 4,458 shares of the medical instruments supplier’s stock valued at $283,000 after acquiring an additional 372 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Haemonetics by 6.2% during the 1st 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 valued at $9,923,000 after purchasing an additional 9,051 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.