Haemonetics (NYSE:HAE) Price Target Increased to $90.00 by Analysts at Morgan Stanley

Haemonetics (NYSE:HAEGet Rating) had its price target lifted by stock analysts at Morgan Stanley from $85.00 to $90.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the medical instruments supplier’s stock. Morgan Stanley’s price objective suggests a potential upside of 9.09% from the stock’s current price.

HAE has been the topic of several other reports. JMP Securities upped their target price on shares of Haemonetics from $90.00 to $105.00 and gave the company a “market outperform” rating in a research report on Tuesday. StockNews.com initiated coverage on shares of Haemonetics in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Barrington Research upped their target price on shares of Haemonetics from $88.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup upped their target price on shares of Haemonetics from $80.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Raymond James increased their price objective on shares of Haemonetics from $88.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.17.

Haemonetics Stock Down 1.8 %

Shares of HAE stock opened at $82.50 on Tuesday. The stock has a market cap of $4.23 billion, a P/E ratio of 62.98 and a beta of 0.40. Haemonetics has a 52 week low of $43.50 and a 52 week high of $86.48. The company has a quick ratio of 2.27, a current ratio of 3.81 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $77.69 and its two-hundred day simple moving average is $69.07.

Haemonetics (NYSE:HAEGet Rating) last announced its quarterly earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $261.50 million for the quarter, compared to analysts’ expectations of $249.00 million. Haemonetics had a net margin of 6.60% and a return on equity of 18.62%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. Analysts predict that Haemonetics will post 2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark W. Kroll sold 8,016 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $73.71, for a total transaction of $590,859.36. Following the transaction, the director now directly owns 16,231 shares in the company, valued at $1,196,387.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mark W. Kroll sold 8,016 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $73.71, for a total transaction of $590,859.36. Following the completion of the transaction, the director now owns 16,231 shares of the company’s stock, valued at $1,196,387.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michelle L. Basil sold 11,448 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $78.36, for a total transaction of $897,065.28. Following the sale, the executive vice president now owns 32,635 shares in the company, valued at approximately $2,557,278.60. The disclosure for this sale can be found here. Insiders have sold 53,729 shares of company stock worth $4,157,115 in the last three months. Corporate insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio boosted its holdings in shares of Haemonetics by 1,282.4% in the 1st quarter. Strs Ohio now owns 23,500 shares of the medical instruments supplier’s stock valued at $1,485,000 after buying an additional 21,800 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Haemonetics by 2.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the medical instruments supplier’s stock worth $769,000 after buying an additional 300 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Haemonetics during the 1st quarter worth $25,000. Emerald Advisers LLC purchased a new position in Haemonetics during the 1st quarter worth $16,914,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Haemonetics during the 1st quarter worth $14,020,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

About Haemonetics

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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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Analyst Recommendations for Haemonetics (NYSE:HAE)

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