Zacks Investment Research upgraded shares of Haemonetics Corporation (NYSE:HAE) from a hold rating to a buy rating in a research note released on Wednesday, October 25th. Zacks Investment Research currently has $52.00 target price on the medical instruments supplier’s stock.
According to Zacks, “Over the last month, Haemonetics has been trading above the broader industry. The company swung to operating income in the last reported first quarter from losses in the year-ago quarter. Also the year-over-year increase in reported sales and gross margin buoys optimism. Meanwhile, the company’s strong cash position boosts investors’ confidence. The company is also optimistic about strong market adoption of its NexSys PCS plasmapheresis system which recently received FDA approval. On the flip side, despite the encouraging growth in the Plasma and Haemonetics Management franchises, the underperformance at BloodCenter was quite a dampener in the last reported quarter. Moreover, currency headwinds and tough competitive landscape may continue to pose challenges for the company going forward.”
A number of other research firms have also recently issued reports on HAE. Jefferies Group LLC reaffirmed a buy rating and issued a $48.00 price objective on shares of Haemonetics Corporation in a research report on Thursday, July 27th. TheStreet raised Haemonetics Corporation from a c rating to a b- rating in a report on Monday, August 7th. Barrington Research raised Haemonetics Corporation from a market perform rating to an outperform rating and set a $48.00 price target for the company in a report on Tuesday, August 8th. JMP Securities raised Haemonetics Corporation from a market perform rating to an outperform rating and set a $50.00 price target for the company in a report on Thursday, July 13th. Finally, Morgan Stanley reissued an equal weight rating and set a $43.00 price target (up from $38.00) on shares of Haemonetics Corporation in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $51.33.
Haemonetics Corporation (HAE) opened at $54.52 on Wednesday. Haemonetics Corporation has a one year low of $36.44 and a one year high of $55.10. The firm has a market capitalization of $2,879.64, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 4.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.17 and a quick ratio of 1.72.
Haemonetics Corporation (NYSE:HAE) last released its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. Haemonetics Corporation had a return on equity of 11.16% and a net margin of 0.50%. The company had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $219.12 million. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. equities research analysts predict that Haemonetics Corporation will post 1.7 EPS for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of the company. Schroder Investment Management Group bought a new position in shares of Haemonetics Corporation in the 3rd quarter valued at $1,565,000. Trexquant Investment LP bought a new position in shares of Haemonetics Corporation in the 3rd quarter valued at $462,000. JPMorgan Chase & Co. increased its stake in shares of Haemonetics Corporation by 106.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 85,562 shares of the medical instruments supplier’s stock valued at $3,700,000 after purchasing an additional 44,128 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Haemonetics Corporation by 5.1% in the 3rd quarter. Legal & General Group Plc now owns 104,958 shares of the medical instruments supplier’s stock valued at $4,703,000 after purchasing an additional 5,065 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Haemonetics Corporation by 5.8% in the 3rd quarter. American International Group Inc. now owns 41,528 shares of the medical instruments supplier’s stock valued at $1,863,000 after purchasing an additional 2,274 shares during the last quarter.
Haemonetics Corporation Company Profile
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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