Raymond James Reiterates “Strong-Buy” Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “strong-buy” rating reiterated by investment analysts at Raymond James in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $105.00 target price on the medical instruments supplier’s stock, down from their previous target price of $115.00. Raymond James’ price objective suggests a potential upside of 53.94% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC lowered their target price on shares of Haemonetics from $104.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday. Barrington Research reduced their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, February 7th. StockNews.com upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Bank of America cut shares of Haemonetics from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $95.00 to $68.00 in a research note on Friday, February 7th. Finally, JMP Securities reduced their price target on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Haemonetics presently has an average rating of “Moderate Buy” and a consensus target price of $97.89.

Haemonetics Price Performance

HAE opened at $68.21 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97. The firm has a market cap of $3.43 billion, a P/E ratio of 26.85, a PEG ratio of 1.11 and a beta of 0.32. The firm has a 50-day moving average of $62.75 and a 200 day moving average of $71.39. Haemonetics has a fifty-two week low of $55.30 and a fifty-two week high of $97.97.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. The company had revenue of $330.60 million during the quarter, compared to the consensus estimate of $329.38 million. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. On average, research analysts expect that Haemonetics will post 4.55 EPS for the current year.

Institutional Trading of Haemonetics

Several institutional investors have recently added to or reduced their stakes in HAE. TD Waterhouse Canada Inc. purchased a new stake in Haemonetics during the 4th quarter valued at about $25,000. Covestor Ltd increased its stake in shares of Haemonetics by 146.8% in the fourth quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 439 shares during the period. Whittier Trust Co. bought a new stake in Haemonetics during the 4th quarter valued at $62,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Haemonetics during the 1st quarter valued at $65,000. Finally, Parkside Financial Bank & Trust grew its holdings in Haemonetics by 25.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after acquiring an additional 240 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other 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.