Analysts Set Haemonetics Co. (NYSE:HAE) Price Target at $107.88

Shares of Haemonetics Co. (NYSE:HAE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $107.88.

A number of research firms recently weighed in on HAE. Bank of America started coverage on Haemonetics in a report on Wednesday, September 11th. They issued a "neutral" rating and a $85.00 price target on the stock. Barrington Research restated an "outperform" rating and issued a $108.00 price target on shares of Haemonetics in a research report on Friday, November 8th. Needham & Company LLC reiterated a "buy" rating and issued a $112.00 price objective on shares of Haemonetics in a research report on Friday, November 15th. Raymond James raised shares of Haemonetics from an "outperform" rating to a "strong-buy" rating and set a $120.00 price objective for the company in a research note on Friday, November 8th. Finally, CL King began coverage on Haemonetics in a report on Friday, September 13th. They issued a "buy" rating and a $116.00 price target for the company.

Haemonetics Stock Performance

NYSE:HAE traded up $0.10 during mid-day trading on Tuesday, reaching $88.56. 602,146 shares of the stock were exchanged, compared to its average volume of 556,577. The stock has a market capitalization of $4.45 billion, a P/E ratio of 36.75, a P/E/G ratio of 1.33 and a beta of 0.32. The company has a 50 day simple moving average of $79.23 and a 200-day simple moving average of $82.24. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. Haemonetics has a 1 year low of $70.25 and a 1 year high of $97.97.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. Analysts anticipate that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

A number of hedge funds have recently made changes to their positions in HAE. Quarry LP bought a new position in Haemonetics in the second quarter worth about $39,000. Daiwa Securities Group Inc. bought a new stake in Haemonetics in the second quarter worth $82,000. Canada Pension Plan Investment Board bought a new stake in shares of Haemonetics during the 2nd quarter worth $83,000. Nisa Investment Advisors LLC boosted its position in shares of Haemonetics by 124.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier's stock valued at $92,000 after acquiring an additional 632 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Haemonetics in the 2nd quarter valued at approximately $140,000. 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.