Haemonetics (NYSE:HAE) Stock Price Expected to Rise, BTIG Research Analyst Says

Haemonetics (NYSE:HAE) had its price target lifted by investment analysts at BTIG Research from $84.00 to $96.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s target price points to a potential upside of 13.39% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Citigroup restated a “buy” rating on shares of Haemonetics in a research note on Wednesday, July 29th. Barrington Research reduced their target price on Haemonetics from $94.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Bank of America upgraded Haemonetics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $72.00 to $80.00 in a research note on Friday, May 22nd. Mizuho raised their price objective on Haemonetics from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. decreased their target price on Haemonetics from $74.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Haemonetics has an average rating of “Moderate Buy” and a consensus target price of $80.22.

Haemonetics Stock Up 1.3%

Shares of Haemonetics stock traded up $1.06 during trading on Thursday, reaching $84.66. The company’s stock had a trading volume of 676,917 shares, compared to its average volume of 850,823. Haemonetics has a 1-year low of $47.31 and a 1-year high of $88.58. The company has a 50-day simple moving average of $76.23 and a two-hundred day simple moving average of $66.28. The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 1.53. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 42.09, a P/E/G ratio of 1.72 and a beta of 0.52.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Haemonetics had a return on equity of 27.30% and a net margin of 7.29%.During the same period in the previous year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Haemonetics will post 5.21 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.