Haemonetics (NYSE:HAE – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.900-4.000 for the period, compared to the consensus earnings per share estimate of 3.890. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion.
Haemonetics Price Performance
NYSE:HAE opened at $77.13 on Thursday. The company has a quick ratio of 2.19, a current ratio of 3.28 and a debt-to-equity ratio of 0.84. The business’s 50-day simple moving average is $83.45 and its two-hundred day simple moving average is $86.70. The stock has a market cap of $3.91 billion, a PE ratio of 30.98, a P/E/G ratio of 1.98 and a beta of 0.34. Haemonetics has a 52 week low of $74.13 and a 52 week high of $95.26.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Barrington Research cut their price objective on Haemonetics from $114.00 to $105.00 and set an outperform rating for the company in a research report on Friday, November 3rd. StockNews.com lowered Haemonetics from a strong-buy rating to a buy rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $103.40.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of 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 valued at $389,776,000 after acquiring an additional 1,091,484 shares in the last quarter. Capital Research Global Investors raised its stake in Haemonetics by 166.1% in 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 in the last quarter. Vanguard Group Inc. raised its stake in Haemonetics by 3.4% in the third quarter. Vanguard Group Inc. now owns 5,195,195 shares of the medical instruments supplier’s stock worth $384,600,000 after buying an additional 173,113 shares in the last quarter. Geode Capital Management LLC raised its stake in Haemonetics by 3.7% in the first quarter. Geode Capital Management LLC now owns 943,722 shares of the medical instruments supplier’s stock worth $78,093,000 after buying an additional 33,570 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Haemonetics by 5.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 661,048 shares of the medical instruments supplier’s stock worth $54,702,000 after purchasing an additional 33,730 shares during the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.
Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions 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, and Donor360.
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