Morgan Stanley Raises Haemonetics (HAE) Price Target to $120.00
Haemonetics (NYSE:HAE) had its target price boosted by Morgan Stanley from $100.00 to $120.00 in a report published on Wednesday. The firm currently has an overweight rating on the medical instruments supplier’s stock.
Several other analysts also recently commented on the stock. Jefferies Financial Group upped their price target on shares of Haemonetics from $95.00 to $110.00 and gave the company a buy rating in a research report on Thursday, June 14th. Zacks Investment Research downgraded shares of Haemonetics from a strong-buy rating to a sell rating in a research report on Wednesday, April 11th. TheStreet upgraded shares of Haemonetics from a c+ rating to a b rating in a research report on Tuesday, May 8th. Finally, Barrington Research upped their price target on shares of Haemonetics to $90.00 and gave the company an outperform rating in a research report on Wednesday, May 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $98.33.
HAE stock traded down $0.22 on Wednesday, hitting $99.74. The company’s stock had a trading volume of 317,539 shares, compared to its average volume of 764,572. Haemonetics has a 1 year low of $41.10 and a 1 year high of $108.37. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 53.34, a price-to-earnings-growth ratio of 4.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.84 and a quick ratio of 0.94.
In other Haemonetics news, VP Dan Goldstein sold 3,794 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $95.09, for a total transaction of $360,771.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Simon sold 3,595 shares of the company’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $40.39, for a total transaction of $145,202.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,711 shares of company stock valued at $1,926,700. 1.04% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in HAE. Millennium Management LLC increased its holdings in shares of Haemonetics by 1,765.9% in the 1st quarter. Millennium Management LLC now owns 1,183,544 shares of the medical instruments supplier’s stock valued at $86,588,000 after purchasing an additional 1,120,115 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Haemonetics by 287.6% in the 1st quarter. JPMorgan Chase & Co. now owns 540,630 shares of the medical instruments supplier’s stock valued at $39,552,000 after purchasing an additional 401,164 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Haemonetics by 3.8% in the 1st quarter. BlackRock Inc. now owns 6,924,926 shares of the medical instruments supplier’s stock valued at $506,627,000 after purchasing an additional 253,938 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Haemonetics in the 2nd quarter valued at about $18,272,000. Finally, Columbus Circle Investors purchased a new position in shares of Haemonetics in the 1st quarter valued at about $14,581,000. Institutional investors own 99.58% of the company’s stock.
Haemonetics Company Profile
Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.
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