Shares of Haemonetics Co. (NYSE:HAE) have been given an average recommendation of “Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $71.33.
Several research firms have recently issued reports on HAE. Zacks Investment Research lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. Barrington Research reissued an “outperform” rating and issued a $71.00 price objective (up previously from $57.00) on shares of Haemonetics in a research report on Wednesday, February 7th. Morgan Stanley increased their price objective on shares of Haemonetics from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Jefferies Group reissued a “buy” rating and issued a $80.00 price objective on shares of Haemonetics in a research report on Wednesday, February 7th. Finally, Raymond James Financial raised shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd.
Haemonetics (NYSE HAE) opened at $69.09 on Wednesday. Haemonetics has a 52-week low of $37.20 and a 52-week high of $72.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.82. The company has a market cap of $3,717.81, a P/E ratio of -203.20, a P/E/G ratio of 3.44 and a beta of 1.06.
Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, topping the 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 analyst estimates of $227.79 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. Haemonetics’s revenue for the quarter was up 2.7% compared to the same quarter last year. equities research analysts expect that Haemonetics will post 1.86 EPS for the current fiscal year.
Haemonetics announced that its board has initiated a stock repurchase program on Tuesday, February 6th that allows the company to repurchase $260.00 million in shares. This repurchase authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Pedro P. Granadillo sold 7,118 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $57.06, for a total value of $406,153.08. Following the completion of the transaction, the director now directly owns 31,663 shares in the company, valued at $1,806,690.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Haemonetics by 3.5% in the fourth quarter. BlackRock Inc. now owns 6,670,988 shares of the medical instruments supplier’s stock valued at $387,452,000 after purchasing an additional 225,160 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Haemonetics by 0.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,428,236 shares of the medical instruments supplier’s stock valued at $141,032,000 after purchasing an additional 13,710 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Haemonetics by 10.2% in the third quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock valued at $92,139,000 after purchasing an additional 189,797 shares during the period. State Street Corp boosted its stake in shares of Haemonetics by 5.0% in the second quarter. State Street Corp now owns 1,330,994 shares of the medical instruments supplier’s stock valued at $52,562,000 after purchasing an additional 62,887 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Haemonetics by 11.5% in the fourth quarter. Renaissance Technologies LLC now owns 977,100 shares of the medical instruments supplier’s stock valued at $56,750,000 after purchasing an additional 100,893 shares during the period. Institutional investors and hedge funds own 95.88% of the company’s stock.
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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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