Barrington Research Reaffirms Outperform Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reissued by equities researchers at Barrington Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $108.00 price target on the medical instruments supplier’s stock. Barrington Research’s target price would indicate a potential upside of 23.54% from the stock’s previous close.

A number of other brokerages have also recently commented on HAE. Citigroup reduced their price objective on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. BTIG Research initiated coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. CL King initiated coverage on shares of Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a report on Tuesday, August 13th. Finally, Raymond James upgraded shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a report on Friday. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Trading Up 1.0 %

Shares of NYSE HAE traded up $0.89 during trading on Friday, hitting $87.42. 1,096,763 shares of the company traded hands, compared to its average volume of 547,029. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $4.47 billion, a P/E ratio of 36.27, a P/E/G ratio of 1.15 and a beta of 0.32. The company has a 50-day moving average price of $75.42 and a 200-day moving average price of $82.60. Haemonetics has a 1 year low of $70.25 and a 1 year high of $97.97.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The company had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, equities analysts predict that Haemonetics will post 4.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HAE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Haemonetics by 1.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,302 shares of the medical instruments supplier’s stock valued at $1,844,000 after buying an additional 428 shares during the period. BNP Paribas Financial Markets boosted its position in Haemonetics by 6.9% during the 1st quarter. BNP Paribas Financial Markets now owns 28,971 shares of the medical instruments supplier’s stock valued at $2,473,000 after purchasing an additional 1,874 shares during the period. Texas Permanent School Fund Corp boosted its position in Haemonetics by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 44,447 shares of the medical instruments supplier’s stock valued at $3,794,000 after purchasing an additional 613 shares during the period. Quantbot Technologies LP increased its position in Haemonetics by 2,101.6% in the first quarter. Quantbot Technologies LP now owns 14,068 shares of the medical instruments supplier’s stock worth $1,201,000 after buying an additional 13,429 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Haemonetics in the first quarter valued at $114,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

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 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 app.