Barrington Research Lowers Haemonetics (NYSE:HAE) Price Target to $89.00

Haemonetics (NYSE:HAE) had its price objective reduced by research analysts at Barrington Research from $94.00 to $89.00 in a research note issued on Tuesday. The firm presently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective suggests a potential upside of 70.09% from the stock’s previous close.

HAE has been the subject of several other research reports. Citigroup restated an “outperform” rating on shares of Haemonetics in a report on Tuesday. Robert W. Baird set a $67.00 target price on shares of Haemonetics in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Haemonetics from $74.00 to $62.00 and set a “neutral” rating for the company in a report on Friday. Wall Street Zen downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Mizuho cut their price target on shares of Haemonetics from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, April 13th. One 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 stock. According to MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average price target of $79.33.

Haemonetics Trading Down 5.1%

Shares of NYSE:HAE opened at $52.32 on Tuesday. Haemonetics has a 52 week low of $47.31 and a 52 week high of $87.32. The company’s 50 day moving average is $59.19 and its two-hundred day moving average is $66.71. The company has a current ratio of 2.95, a quick ratio of 1.87 and a debt-to-equity ratio of 1.53. The company has a market cap of $2.43 billion, a PE ratio of 25.90, a P/E/G ratio of 1.10 and a beta of 0.53.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, May 7th. The medical instruments supplier reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Haemonetics had a net margin of 7.29% and a return on equity of 27.30%. The company had revenue of $346.35 million for the quarter, compared to the consensus estimate of $336.83 million. During the same period in the prior year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Haemonetics has set its FY 2027 guidance at 5.258-5.307 EPS. Equities analysts predict that Haemonetics will post 5.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its holdings in Haemonetics by 1,405.7% during the 3rd quarter. Federated Hermes Inc. now owns 46,104 shares of the medical instruments supplier’s stock valued at $2,247,000 after acquiring an additional 43,042 shares in the last quarter. Isthmus Partners LLC increased its holdings in Haemonetics by 36.5% during the 3rd quarter. Isthmus Partners LLC now owns 61,702 shares of the medical instruments supplier’s stock valued at $3,007,000 after acquiring an additional 16,505 shares in the last quarter. Invenomic Capital Management LP increased its holdings in Haemonetics by 1,691.5% during the 3rd quarter. Invenomic Capital Management LP now owns 498,317 shares of the medical instruments supplier’s stock valued at $24,288,000 after acquiring an additional 470,502 shares in the last quarter. Skylands Capital LLC increased its holdings in Haemonetics by 195.4% during the 3rd quarter. Skylands Capital LLC now owns 81,369 shares of the medical instruments supplier’s stock valued at $3,966,000 after acquiring an additional 53,819 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Haemonetics by 16.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 559,972 shares of the medical instruments supplier’s stock valued at $27,293,000 after acquiring an additional 79,138 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.