Robert W. Baird initiated coverage on shares of Haemonetics (NYSE:HAE – Get Free Report) in a report released on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $87.00 price target on the medical instruments supplier’s stock. Robert W. Baird’s price objective points to a potential upside of 17.62% from the company’s current price.
HAE has been the topic of a number of other research reports. JMP Securities restated a “market outperform” rating and issued a $100.00 target price on shares of Haemonetics in a report on Tuesday, May 20th. Raymond James Financial restated a “strong-buy” rating and issued a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a report on Friday, May 9th. Wall Street Zen lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Needham & Company LLC decreased their price objective on shares of Haemonetics from $104.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Haemonetics presently has an average rating of “Moderate Buy” and a consensus price target of $96.80.
View Our Latest Report on Haemonetics
Haemonetics Trading Down 1.1%
Haemonetics (NYSE:HAE – Get Free Report) last posted its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Haemonetics had a net margin of 12.32% and a return on equity of 26.37%. The company had revenue of $330.60 million for the quarter, compared to analyst estimates of $329.38 million. During the same quarter in the prior year, the business posted $0.90 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, research analysts predict that Haemonetics will post 4.55 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Haemonetics
Several institutional investors and hedge funds have recently added to or reduced their stakes in HAE. Principal Financial Group Inc. increased its stake in Haemonetics by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 156,734 shares of the medical instruments supplier’s stock valued at $12,238,000 after buying an additional 1,475 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Haemonetics by 25.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 240 shares during the period. Fisher Asset Management LLC grew its position in shares of Haemonetics by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 711,774 shares of the medical instruments supplier’s stock valued at $55,575,000 after acquiring an additional 22,265 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Haemonetics by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 551,193 shares of the medical instruments supplier’s stock valued at $43,037,000 after acquiring an additional 8,477 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Haemonetics by 1.2% during the 4th quarter. Arizona State Retirement System now owns 14,853 shares of the medical instruments supplier’s stock valued at $1,160,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.
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.
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