Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating reaffirmed by research analysts at Barrington Research in a research report issued on Wednesday, February 7th, Marketbeat reports. They currently have a $71.00 price objective on the medical instruments supplier’s stock, up from their previous price objective of $57.00. Barrington Research’s price target suggests a potential upside of 2.96% from the company’s previous close. Barrington Research also issued estimates for Haemonetics’ Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.85 EPS, Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.49 EPS, FY2019 earnings at $2.05 EPS and FY2020 earnings at $2.35 EPS.
A number of other equities research analysts also recently issued reports on HAE. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, October 25th. Craig Hallum reissued a “hold” rating and set a $50.00 price objective (up from $40.00) on shares of Haemonetics in a research note on Wednesday, November 8th. Morgan Stanley raised their price objective on shares of Haemonetics from $43.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Raymond James Financial raised shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Finally, Jefferies Group raised their price objective on shares of Haemonetics from $18.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $71.33.
Shares of Haemonetics (NYSE:HAE) traded down $0.27 on Wednesday, hitting $68.96. 255,911 shares of the stock traded hands, compared to its average volume of 502,778. Haemonetics has a twelve month low of $37.20 and a twelve month high of $72.33. The firm has a market capitalization of $3,679.33, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 3.41 and a beta of 1.06. The company has a quick ratio of 1.33, a current ratio of 1.82 and a debt-to-equity ratio of 0.14.
Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.18. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The firm had revenue of $234.04 million during the quarter, compared to the consensus estimate of $227.79 million. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. sell-side analysts forecast that Haemonetics will post 1.87 earnings per share for the current fiscal year.
Haemonetics declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 6th that authorizes the company to repurchase $260.00 million in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Mark W. Kroll sold 7,118 shares of Haemonetics stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $63.00, for a total transaction of $448,434.00. Following the transaction, the director now owns 33,881 shares in the company, valued at approximately $2,134,503. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald G. Gelbman sold 5,440 shares of Haemonetics stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $56.69, for a total transaction of $308,393.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,676 shares of company stock worth $1,162,981. 1.20% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in Haemonetics by 3.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 51,256 shares of the medical instruments supplier’s stock worth $2,300,000 after buying an additional 1,879 shares in the last quarter. Rhumbline Advisers lifted its holdings in Haemonetics by 2.1% in the 3rd quarter. Rhumbline Advisers now owns 104,669 shares of the medical instruments supplier’s stock worth $4,696,000 after buying an additional 2,145 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Haemonetics by 3.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 589,379 shares of the medical instruments supplier’s stock worth $26,446,000 after buying an additional 20,925 shares in the last quarter. Boston Advisors LLC increased its position in shares of Haemonetics by 83.8% in the 3rd quarter. Boston Advisors LLC now owns 50,825 shares of the medical instruments supplier’s stock worth $2,281,000 after purchasing an additional 23,180 shares during the last quarter. Finally, TCW Group Inc. bought a new stake in shares of Haemonetics in the 3rd quarter worth about $457,000.
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Haemonetics Company Profile
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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