Haemonetics (NYSE:HAE) Price Target Raised to $110.00

Haemonetics (NYSE:HAE) had its target price raised by BTIG Research from $96.00 to $110.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Other research analysts have also recently issued reports about the stock. Citigroup boosted their price objective on shares of Haemonetics from $79.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Robert W. Baird set a $96.00 target price on shares of Haemonetics in a report on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Haemonetics in a research report on Friday, August 7th. Mizuho boosted their target price on shares of Haemonetics from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, Bank of America raised Haemonetics from a “neutral” rating to a “buy” rating and increased their price target for the company from $72.00 to $80.00 in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Haemonetics Price Performance

NYSE HAE opened at $108.44 on Tuesday. Haemonetics has a one year low of $47.31 and a one year high of $109.56. The stock has a 50-day moving average of $81.07 and a 200 day moving average of $68.20. The company has a market capitalization 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 has a debt-to-equity ratio of 1.40, a quick ratio of 1.91 and a current ratio of 3.08.

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

Hedge Funds Weigh In On Haemonetics

Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Securities LLC bought a new stake in Haemonetics during the second quarter valued at approximately $356,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Haemonetics by 5.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,611 shares of the medical instruments supplier’s stock worth $10,771,000 after acquiring an additional 7,914 shares during the period. Grandeur Peak Global Advisors LLC bought a new position in Haemonetics in the second quarter worth approximately $989,000. Public Employees Retirement System of Ohio purchased a new position in shares of Haemonetics during the 2nd quarter worth $54,000. Finally, Corient Private Wealth LP purchased a new position in shares of Haemonetics during the 2nd quarter worth $4,852,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Company Profile

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.