Haemonetics (NYSE:HAE) Rating Increased to Buy at Wall Street Zen

Haemonetics (NYSE:HAE) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on HAE. Mizuho cut their target price on Haemonetics from $90.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Citigroup cut their price objective on shares of Haemonetics from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Barrington Research boosted their target price on shares of Haemonetics from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Haemonetics in a research note on Monday. Finally, Needham & Company LLC boosted their price objective on Haemonetics from $68.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Haemonetics currently has an average rating of “Moderate Buy” and an average target price of $79.70.

Haemonetics Stock Performance

Shares of NYSE HAE opened at $83.98 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 1.08. The firm’s 50-day moving average price is $61.83 and its two-hundred day moving average price is $63.84. Haemonetics has a 52-week low of $47.31 and a 52-week high of $85.23. The stock has a market capitalization of $3.93 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.51 and a beta of 0.30.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 6th. The medical instruments supplier reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.15. The business had revenue of $327.32 million for the quarter, compared to analysts’ expectations of $311.61 million. Haemonetics had a return on equity of 27.22% and a net margin of 12.67%.The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. Haemonetics has set its FY 2026 guidance at 4.800-5.00 EPS. As a group, sell-side analysts forecast that Haemonetics will post 4.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HAE. CIBC Private Wealth Group LLC raised its holdings in Haemonetics by 69.3% during the third quarter. CIBC Private Wealth Group LLC now owns 1,094 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 448 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Haemonetics during the 3rd quarter valued at $251,000. Danske Bank A S acquired a new position in shares of Haemonetics during the 3rd quarter valued at $665,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Haemonetics by 20,925.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 841 shares of the medical instruments supplier’s stock worth $41,000 after buying an additional 837 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Haemonetics by 3.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 35,438 shares of the medical instruments supplier’s stock valued at $1,706,000 after buying an additional 1,266 shares during the period. 99.67% of the stock is currently owned by institutional investors.

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.