Haemonetics (NYSE:HAE) Earns Outperform Rating from Barrington Research

Haemonetics (NYSE:HAE - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Barrington Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $108.00 price objective on the medical instruments supplier's stock. Barrington Research's price objective would suggest a potential upside of 23.54% from the company's previous close.

Several other equities research analysts also recently commented on the company. CL King started coverage on Haemonetics in a report on Friday, September 13th. They issued a "buy" rating and a $116.00 price objective for the company. Citigroup decreased their price objective on shares of Haemonetics from $94.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, August 22nd. Bank of America assumed coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a "neutral" rating and a $85.00 price objective for the company. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Haemonetics in a research note on Tuesday, August 13th. Finally, BTIG Research initiated coverage on shares of Haemonetics in a report on Tuesday, September 10th. They issued a "buy" rating and a $112.00 price target for the company. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $107.88.

Haemonetics Price Performance

NYSE HAE traded up $0.89 on Friday, hitting $87.42. The stock had a trading volume of 1,161,915 shares, compared to its average volume of 546,918. The firm has a 50-day moving average of $75.88 and a 200-day moving average of $82.65. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 39.20, a price-to-earnings-growth ratio of 1.22 and a beta of 0.32. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.33 and a current ratio of 3.76. Haemonetics has a 52-week low of $70.25 and a 52-week high of $97.97.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $342.57 million. During the same quarter last year, the business posted $0.99 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Haemonetics will post 4.57 EPS for the current year.

Institutional Investors Weigh In On Haemonetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Haemonetics during the second quarter worth about $39,000. Covestor Ltd increased its position in shares of Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier's stock valued at $58,000 after buying an additional 438 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Haemonetics during the 2nd quarter worth $82,000. Canada Pension Plan Investment Board acquired a new stake in Haemonetics in the 2nd quarter valued at about $83,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Haemonetics in the first quarter valued at about $86,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.