Haemonetics (NYSE:HAE) Earns Buy Rating from Analysts at BTIG Research

Stock analysts at BTIG Research began coverage on shares of Haemonetics (NYSE:HAE) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $112.00 price target on the medical instruments supplier’s stock. BTIG Research’s target price suggests a potential upside of 54.04% from the company’s current price.

Several other research analysts have also recently issued reports on HAE. Citigroup cut their target price on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Needham & Company LLC raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a report on Wednesday, June 12th. Barrington Research upped their target price on shares of Haemonetics from $107.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.40.

Haemonetics Stock Performance

HAE opened at $72.71 on Tuesday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.33 and a beta of 0.30. The company’s fifty day moving average price is $82.19 and its two-hundred day moving average price is $84.03. Haemonetics has a 1-year low of $70.74 and a 1-year high of $97.97. The company has a current ratio of 3.76, a quick ratio of 2.33 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.01). The business had revenue of $336.17 million during the quarter, compared to the consensus estimate of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. Haemonetics’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. On average, analysts expect that Haemonetics will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling at Haemonetics

In other news, EVP Anila Lingamneni sold 2,136 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $90.00, for a total transaction of $192,240.00. Following the completion of the sale, the executive vice president now directly owns 21,410 shares of the company’s stock, valued at approximately $1,926,900. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Haemonetics news, EVP Anila Lingamneni sold 2,136 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $90.00, for a total value of $192,240.00. Following the transaction, the executive vice president now directly owns 21,410 shares in the company, valued at $1,926,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stewart W. Strong sold 4,312 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $91.15, for a total transaction of $393,038.80. Following the sale, the insider now owns 18,196 shares of the company’s stock, valued at approximately $1,658,565.40. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Haemonetics

Hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in shares of Haemonetics by 6,573.6% in the second quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock valued at $70,267,000 after purchasing an additional 836,623 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in Haemonetics during the 1st quarter valued at $38,706,000. Mizuho Markets Americas LLC bought a new stake in Haemonetics during the 2nd quarter valued at $30,080,000. Norges Bank purchased a new stake in shares of Haemonetics during the fourth quarter worth $28,591,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Haemonetics by 132.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 502,993 shares of the medical instruments supplier’s stock worth $42,930,000 after acquiring an additional 286,897 shares during the period. 99.67% of the stock is currently owned by institutional investors.

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.