Haemonetics (NYSE:HAE) Hits New 1-Year High Following Analyst Upgrade

Haemonetics Co. (NYSE:HAE – Get Rating) shares hit a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $100.00 to $110.00. Mizuho currently has a buy rating on the stock. Haemonetics traded as high as $91.12 and last traded at $91.10, with a volume of 17529 shares traded. The stock had previously closed at $89.88.

Several other research analysts have also recently commented on HAE. Raymond James raised their target price on shares of Haemonetics from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, November 8th. StockNews.com started coverage on shares of Haemonetics in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Morgan Stanley reduced their price target on shares of Haemonetics from $90.00 to $84.00 and set an “equal weight” rating for the company in a research report on Friday, January 6th. TheStreet raised shares of Haemonetics from a “c+” rating to a “b” rating in a research report on Monday, November 7th. Finally, JMP Securities increased their price target on shares of Haemonetics from $90.00 to $105.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.50.

Hedge Funds Weigh In On Haemonetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wipfli Financial Advisors LLC bought a new position in Haemonetics during the third quarter valued at approximately $25,000. Romano Brothers AND Company bought a new position in Haemonetics during the fourth quarter valued at approximately $31,000. Eagle Bay Advisors LLC raised its position in shares of Haemonetics by 155.1% in the second quarter. Eagle Bay Advisors LLC now owns 653 shares of the medical instruments supplier’s stock valued at $43,000 after purchasing an additional 397 shares during the period. FinTrust Capital Advisors LLC bought a new position in shares of Haemonetics in the third quarter valued at approximately $60,000. Finally, Altshuler Shaham Ltd bought a new position in shares of Haemonetics in the third quarter valued at approximately $59,000.

Haemonetics Stock Performance

The company has a market cap of $4.59 billion, a P/E ratio of 54.58 and a beta of 0.39. The company has a quick ratio of 1.76, a current ratio of 2.73 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average price is $81.62 and its 200 day moving average price is $77.20.

Haemonetics (NYSE:HAE – Get Rating) last released its quarterly earnings results on Monday, November 7th. The medical instruments supplier reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.13. Haemonetics had a net margin of 7.94% and a return on equity of 20.05%. The company had revenue of $297.49 million for the quarter, compared to analyst estimates of $273.92 million. As a group, research analysts expect that Haemonetics Co. will post 2.87 EPS for the current fiscal year.

About Haemonetics

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Haemonetics Corp. is a global healthcare company, which engages in the development and distribution of hematology products and solutions. It operates through the following segments: Plasma, Blood Center, Hospital, and Corporate. The Plasma segment offers automated plasma collection and donor management software systems.