Haemonetics’ (HAE) “Outperform” Rating Reiterated at Barrington Research

by · The Markets Daily

Barrington Research reiterated their outperform rating on shares of Haemonetics (NYSE:HAE – Free Report) in a research note published on Monday morning,Benzinga reports. Barrington Research currently has a $93.00 price objective on the medical instruments supplier’s stock.

Several other research analysts have also recently commented on HAE. Raymond James Financial reiterated an “outperform” rating and set a $90.00 price target on shares of Haemonetics in a report on Friday, November 14th. Mizuho boosted their target price on shares of Haemonetics from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Citigroup dropped their target price on Haemonetics from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. CJS Securities raised Haemonetics to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Wall Street Zen upgraded Haemonetics from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Haemonetics currently has an average rating of “Moderate Buy” and an average price target of $84.40.

Read Our Latest Research Report on HAE

Haemonetics Price Performance

HAE stock opened at $66.02 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.64 and a quick ratio of 1.03. The firm has a market capitalization of $3.09 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.35 and a beta of 0.28. The business’s 50-day moving average is $77.59 and its two-hundred day moving average is $65.27. Haemonetics has a 1 year low of $47.31 and a 1 year high of $87.32.

Haemonetics (NYSE:HAE – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The medical instruments supplier reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.15. The business had revenue of $327.32 million during the quarter, compared to the consensus estimate of $311.61 million. Haemonetics had a return on equity of 27.22% and a net margin of 12.67%.The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Analysts anticipate that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Haemonetics by 372.8% in the third quarter. AQR Capital Management LLC now owns 2,128,878 shares of the medical instruments supplier’s stock valued at $102,814,000 after acquiring an additional 1,678,630 shares during the period. Millennium Management LLC raised its position in Haemonetics by 4,296.3% in the 3rd quarter. Millennium Management LLC now owns 773,179 shares of the medical instruments supplier’s stock valued at $37,685,000 after purchasing an additional 755,592 shares during the last quarter. Norges Bank acquired a new stake in Haemonetics during the 2nd quarter worth $36,822,000. Invenomic Capital Management LP grew its position in Haemonetics by 1,691.5% during the 3rd quarter. Invenomic Capital Management LP now owns 498,317 shares of the medical instruments supplier’s stock worth $24,288,000 after purchasing an additional 470,502 shares during the last quarter. Finally, SG Capital Management LLC increased its stake in Haemonetics by 92.5% in the second quarter. SG Capital Management LLC now owns 906,892 shares of the medical instruments supplier’s stock valued at $67,663,000 after purchasing an additional 435,660 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

(Get Free Report)

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.

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