Haemonetics (NYSE:HAE) Hits New 52-Week High – Should You Buy?

Shares of Haemonetics Corporation (NYSE:HAE) hit a new 52-week high on Thursday. The company traded as high as $119.00 and last traded at $115.9320, with a volume of 63952 shares traded. The stock had previously closed at $101.71.

Wall Street Analysts Forecast Growth

HAE has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Haemonetics from $62.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Wall Street Zen raised Haemonetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. BTIG Research raised their price objective on shares of Haemonetics from $96.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Robert W. Baird lifted their target price on shares of Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Finally, Raymond James Financial upped their price target on shares of Haemonetics from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.78.

Haemonetics Stock Performance

The stock has a 50 day moving average of $100.64 and a 200 day moving average of $78.67. 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 company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 57.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The business had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. During the same quarter in the prior year, the firm posted $1.10 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts predict that Haemonetics Corporation will post 5.29 EPS for the current year.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds have recently bought and sold shares of HAE. Cim Investment Management Inc. acquired a new stake in Haemonetics during the 2nd quarter worth about $450,000. Sequoia Financial Advisors LLC acquired a new position in Haemonetics during the 2nd quarter valued at about $304,000. Tidal Investments LLC raised its position in Haemonetics by 2.9% in the 2nd quarter. Tidal Investments LLC now owns 18,357 shares of the medical instruments supplier’s stock valued at $1,377,000 after buying an additional 517 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC bought a new stake in Haemonetics in the 2nd quarter worth about $316,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Haemonetics during the second quarter valued at approximately $122,000. Institutional investors own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation (NYSE: HAE) is a medical technology company that develops and supplies products and software for blood management. Its solutions are used to collect, process, manage and analyze blood and blood components, helping healthcare providers and blood and plasma collection organizations improve the availability, safety and efficiency of transfusion-related care.

The company’s portfolio includes plasma and blood component collection systems, disposable collection and processing kits, surgical blood recovery and autotransfusion systems, and technologies used to assess coagulation and hemostasis.