Haemonetics Co. (NYSE:HAE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Haemonetics Co. (NYSE:HAE – Get Rating) have received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $101.00.

HAE has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Haemonetics from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Barrington Research upped their price objective on shares of Haemonetics from $94.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Citigroup boosted their target price on shares of Haemonetics from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 8th. StockNews.com assumed coverage on shares of Haemonetics in a report on Thursday. They set a “buy” rating on the stock. Finally, Mizuho boosted their target price on shares of Haemonetics from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th.

Haemonetics Stock Performance

NYSE HAE opened at $77.77 on Friday. The company has a quick ratio of 1.99, a current ratio of 3.11 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $3.92 billion, a P/E ratio of 42.04, a P/E/G ratio of 2.53 and a beta of 0.43. Haemonetics has a 12-month low of $48.67 and a 12-month high of $91.39. The firm has a 50-day moving average price of $81.81 and a two-hundred day moving average price of $79.90.

Haemonetics (NYSE:HAE – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The medical instruments supplier reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. The firm had revenue of $305.30 million during the quarter, compared to the consensus estimate of $300.47 million. Haemonetics had a net margin of 8.48% and a return on equity of 19.84%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 EPS. Analysts anticipate that Haemonetics will post 2.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Josep Llorens sold 2,391 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $90.00, for a total value of $215,190.00. Following the completion of the sale, the executive vice president now owns 17,234 shares in the company, valued at $1,551,060. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.65% of the company’s stock.

Institutional Trading of Haemonetics

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Haemonetics by 21.5% during the first quarter. Wellington Management Group LLP now owns 6,165,363 shares of the medical instruments supplier’s stock worth $389,776,000 after buying an additional 1,091,484 shares during the last quarter. Capital Research Global Investors increased its holdings in Haemonetics by 166.1% during the first quarter. Capital Research Global Investors now owns 5,452,006 shares of the medical instruments supplier’s stock worth $344,676,000 after buying an additional 3,402,873 shares during the last quarter. Vanguard Group Inc. boosted its position in Haemonetics by 3.4% during the third quarter. Vanguard Group Inc. now owns 5,195,195 shares of the medical instruments supplier’s stock worth $384,600,000 after purchasing an additional 173,113 shares during the period. Neuberger Berman Group LLC boosted its position in Haemonetics by 4.7% during the third quarter. Neuberger Berman Group LLC now owns 3,893,389 shares of the medical instruments supplier’s stock worth $288,209,000 after purchasing an additional 174,545 shares during the period. Finally, Geode Capital Management LLC boosted its position in Haemonetics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 910,152 shares of the medical instruments supplier’s stock worth $71,583,000 after purchasing an additional 24,628 shares during the period.

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.