Robert W. Baird Forecasts Strong Price Appreciation for Haemonetics (NYSE:HAE) Stock

Haemonetics (NYSE:HAE) had its price target lifted by Robert W. Baird from $96.00 to $119.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the medical instruments supplier’s stock. Robert W. Baird’s price target would suggest a potential upside of 9.74% from the stock’s current price.

HAE has been the topic of a number of other reports. Wall Street Zen upgraded Haemonetics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Citigroup raised their price target on shares of Haemonetics from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Mizuho upped their price objective on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $72.00 to $80.00 in a research report on Friday, May 22nd. Finally, BTIG Research raised their price objective on Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.56.

Haemonetics Price Performance

HAE stock opened at $108.44 on Friday. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 2.17 and a beta of 0.52. The company’s fifty day simple moving average is $81.07 and its 200 day simple moving average is $68.20. Haemonetics has a 12-month low of $47.31 and a 12-month high of $109.56.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. Haemonetics had a return on equity of 27.55% and a net margin of 7.12%.The firm had revenue of $339.38 million during the quarter, compared to analyst estimates of $327.86 million. During the same period last year, the company posted $1.10 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts expect that Haemonetics will post 5.28 earnings per share for the current year.

Institutional Trading of Haemonetics

Several hedge funds have recently added to or reduced their stakes in HAE. Kemnay Advisory Services Inc. bought a new position in Haemonetics during the fourth quarter valued at $26,000. Leonteq Securities AG bought a new position in Haemonetics during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Haemonetics by 2,640.0% in the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock worth $31,000 after purchasing an additional 396 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Haemonetics in the 4th quarter worth approximately $34,000. Finally, Kelleher Financial Advisors bought a new stake in Haemonetics during the 2nd quarter valued at $38,000. Institutional investors own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation is a global provider of blood management solutions that support the collection, processing and transfusion of blood and blood products. The company’s offerings are designed to enhance patient safety and operational efficiency for blood centers, hospitals and plasma collection facilities. Haemonetics serves healthcare providers worldwide by delivering integrated systems, software and consumables that address critical needs throughout the continuum of blood management.

The company’s product portfolio includes automated apheresis and plasma collection systems, surgical blood salvage and coagulation monitoring devices, and pathogen reduction technologies.