Haemonetics (NYSE:HAE) Sets New 12-Month High – Still a Buy?

Haemonetics Corporation (NYSE:HAE)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $88.88 and last traded at $88.0440, with a volume of 43260 shares. The stock had previously closed at $86.61.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HAE shares. Raymond James Financial restated an “outperform” rating and issued a $105.00 price objective on shares of Haemonetics in a research report on Friday. Bank of America upgraded Haemonetics from a “neutral” rating to a “buy” rating and raised their price target for the company from $72.00 to $80.00 in a report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price objective on Haemonetics from $62.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday. BTIG Research raised their target price on shares of Haemonetics from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Haemonetics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.89.

Haemonetics Price Performance

The company has a 50 day moving average of $77.37 and a 200 day moving average of $66.59. The company has a current ratio of 3.08, a quick ratio of 1.91 and a debt-to-equity ratio of 1.40. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 42.89, a P/E/G ratio of 1.77 and a beta of 0.52.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The business had revenue of $339.38 million for the quarter, compared to analysts’ expectations of $327.86 million. During the same quarter in the previous year, the business posted $1.10 EPS. Haemonetics’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts predict that Haemonetics Corporation will post 5.21 EPS for the current fiscal 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 position in shares of Haemonetics in the fourth quarter valued at approximately $26,000. Leonteq Securities AG acquired a new stake in shares of Haemonetics during the fourth quarter worth $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of Haemonetics by 2,640.0% during the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock worth $31,000 after acquiring an additional 396 shares during the period. Kestra Advisory Services LLC bought a new stake in Haemonetics in the 4th quarter valued at $34,000. Finally, Bayforest Capital Ltd bought a new stake in Haemonetics in the 4th quarter valued at $40,000. Institutional investors own 99.67% of the company’s stock.

About Haemonetics

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.