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

Haemonetics (NYSE:HAE)‘s stock had its “outperform” rating restated by investment analysts at Barrington Research in a research note issued on Wednesday. They currently have a $71.00 price target on the medical instruments supplier’s stock, up from their previous price target of $57.00. Barrington Research’s target price suggests a potential upside of 4.72% from the stock’s current price.

HAE has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, October 25th. Morgan Stanley upgraded shares of Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price target on the stock in a research note on Tuesday, January 2nd. Jefferies Group increased their price target on shares of Haemonetics from $18.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 8th. Raymond James Financial upgraded shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Finally, Craig Hallum reiterated a “hold” rating and issued a $50.00 price target (up from $40.00) on shares of Haemonetics in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Haemonetics currently has an average rating of “Hold” and a consensus price target of $70.00.

Haemonetics (NYSE HAE) traded up $1.40 during mid-day trading on Wednesday, hitting $67.80. 120,310 shares of the company were exchanged, compared to its average volume of 419,528. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.17 and a quick ratio of 1.51. Haemonetics has a 12-month low of $36.44 and a 12-month high of $69.00. The stock has a market capitalization of $3,207.12, a price-to-earnings ratio of 856.86, a price-to-earnings-growth ratio of 4.58 and a beta of 1.06.

Haemonetics (NYSE:HAE) last released its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.18. Haemonetics had a net margin of 0.50% and a return on equity of 11.16%. The firm had revenue of $234.04 million for the quarter, compared to analyst estimates of $227.79 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. sell-side analysts forecast that Haemonetics will post 1.69 earnings per share for the current fiscal year.

Haemonetics declared that its Board of Directors has approved a stock 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other news, Director Susan Bartlett Foote sold 16,926 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $54.19, for a total value of $917,219.94. Following the completion of the sale, the director now directly owns 27,313 shares of the company’s stock, valued at $1,480,091.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willaim P. Burke sold 13,193 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $54.04, for a total value of $712,949.72. Following the completion of the sale, the chief financial officer now directly owns 27,227 shares of the company’s stock, valued at $1,471,347.08. The disclosure for this sale can be found here. Insiders sold 54,486 shares of company stock worth $3,050,827 over the last quarter. 1.20% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Haemonetics by 1.0% in the second quarter. Vanguard Group Inc. now owns 4,743,044 shares of the medical instruments supplier’s stock valued at $187,303,000 after acquiring an additional 48,719 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Haemonetics by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,428,236 shares of the medical instruments supplier’s stock worth $141,032,000 after purchasing an additional 13,710 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Haemonetics by 10.2% during the third quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock worth $92,139,000 after purchasing an additional 189,797 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Haemonetics by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,739,734 shares of the medical instruments supplier’s stock worth $68,702,000 after purchasing an additional 40,381 shares during the period. Finally, State Street Corp lifted its holdings in shares of Haemonetics by 5.0% during the second quarter. State Street Corp now owns 1,330,994 shares of the medical instruments supplier’s stock worth $52,562,000 after purchasing an additional 62,887 shares during the period.

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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.

Analyst Recommendations for Haemonetics (NYSE:HAE)

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