Haemonetics (NYSE:HAE) Raised to Strong-Buy at Raymond James

Haemonetics (NYSE:HAE - Get Free Report) was upgraded by equities research analysts at Raymond James from an "outperform" rating to a "strong-buy" rating in a research report issued on Friday, MarketBeat reports. The firm currently has a $120.00 price target on the medical instruments supplier's stock. Raymond James' target price suggests a potential upside of 38.01% from the company's previous close.

Other analysts have also recently issued reports about the company. JMP Securities reissued a "market outperform" rating and issued a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th. CL King began coverage on Haemonetics in a report on Friday, September 13th. They set a "buy" rating and a $116.00 price target for the company. Barrington Research reiterated an "outperform" rating and issued a $108.00 price target on shares of Haemonetics in a research note on Monday, September 23rd. BTIG Research initiated coverage on shares of Haemonetics in a report on Tuesday, September 10th. They issued a "buy" rating and a $112.00 target price for the company. Finally, Citigroup cut their price target on shares of Haemonetics from $94.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Haemonetics has a consensus rating of "Moderate Buy" and an average price target of $107.88.

Haemonetics Trading Up 0.5 %

Shares of NYSE HAE traded up $0.42 during midday trading on Friday, hitting $86.95. 501,084 shares of the company traded hands, compared to its average volume of 545,698. 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 12-month low of $70.25 and a 12-month high of $97.97. The stock has a 50-day moving average price of $75.42 and a 200 day moving average price of $82.60. The firm has a market cap of $4.45 billion, a P/E ratio of 35.38, a P/E/G ratio of 1.15 and a beta of 0.32.

Haemonetics (NYSE:HAE - Get Free Report) last posted 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. The business had revenue of $345.50 million during the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a return on equity of 21.86% and a net margin of 8.61%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, analysts expect that Haemonetics will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On Haemonetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors grew its stake in shares of Haemonetics by 2.3% during the 1st quarter. Capital Research Global Investors now owns 6,674,751 shares of the medical instruments supplier's stock valued at $569,690,000 after purchasing an additional 151,183 shares during the period. Royce & Associates LP boosted its holdings in Haemonetics by 2.6% in the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier's stock worth $97,304,000 after buying an additional 30,868 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Haemonetics by 29.5% during the third quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier's stock worth $88,433,000 after purchasing an additional 250,833 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Haemonetics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier's stock valued at $80,972,000 after purchasing an additional 57,665 shares during the last quarter. Finally, Boston Trust Walden Corp increased its position in Haemonetics by 13.8% during the third quarter. Boston Trust Walden Corp now owns 809,608 shares of the medical instruments supplier's stock valued at $65,076,000 after acquiring an additional 98,019 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

Haemonetics Company Profile

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.