Haemonetics (NYSE:HAE) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Haemonetics (NYSE:HAEGet Rating) from a hold rating to a buy rating in a research report released on Thursday morning.

A number of other brokerages have also recently commented on HAE. Barrington Research upped their price target on Haemonetics from $71.00 to $77.00 in a research report on Wednesday, May 11th. JMP Securities reaffirmed a buy rating and set a $80.00 price target on shares of Haemonetics in a research report on Thursday, June 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $71.86.

Shares of NYSE:HAE opened at $59.28 on Thursday. The company has a market capitalization of $3.04 billion, a PE ratio of 70.57 and a beta of 0.42. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.05. The business has a fifty day moving average price of $58.23 and a two-hundred day moving average price of $55.70. Haemonetics has a 1 year low of $43.50 and a 1 year high of $75.34.

Haemonetics (NYSE:HAEGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $265.00 million during the quarter, compared to the consensus estimate of $257.11 million. Haemonetics had a return on equity of 18.57% and a net margin of 4.37%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Sell-side analysts anticipate that Haemonetics will post 2.72 earnings per share for the current year.

In other Haemonetics news, EVP Josep Llorens sold 1,418 shares of the firm’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $59.10, for a total value of $83,803.80. Following the sale, the executive vice president now owns 17,335 shares of the company’s stock, valued at approximately $1,024,498.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Simon sold 832 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $56.10, for a total value of $46,675.20. Following the completion of the sale, the chief executive officer now directly owns 191,327 shares in the company, valued at approximately $10,733,444.70. The disclosure for this sale can be found here. Insiders have sold a total of 8,242 shares of company stock worth $490,404 in the last three months. 1.44% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Peregrine Capital Management LLC increased its position in shares of Haemonetics by 3.0% during the 4th quarter. Peregrine Capital Management LLC now owns 190,675 shares of the medical instruments supplier’s stock valued at $10,113,000 after purchasing an additional 5,507 shares during the last quarter. Rice Hall James & Associates LLC increased its position in shares of Haemonetics by 33.9% during the 4th quarter. Rice Hall James & Associates LLC now owns 57,879 shares of the medical instruments supplier’s stock valued at $3,070,000 after purchasing an additional 14,647 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Haemonetics by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,685 shares of the medical instruments supplier’s stock valued at $24,647,000 after purchasing an additional 32,469 shares during the last quarter. Clearline Capital LP bought a new position in shares of Haemonetics during the 4th quarter valued at about $629,000. Finally, Dean Capital Management increased its position in shares of Haemonetics by 24.2% during the 4th quarter. Dean Capital Management now owns 15,309 shares of the medical instruments supplier’s stock valued at $812,000 after purchasing an additional 2,982 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Haemonetics Company Profile (Get Rating)

Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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