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

Haemonetics (NYSE:HAEGet Free Report) had its price objective upped by research analysts at BTIG Research from $96.00 to $110.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. BTIG Research’s price objective points to a potential upside of 6.48% from the stock’s current price.

Other analysts have also issued reports about the company. Weiss Ratings raised Haemonetics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Barrington Research set a $95.00 price objective on Haemonetics in a research note on Friday, August 7th. Bank of America upgraded shares of Haemonetics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $72.00 to $80.00 in a report on Friday, May 22nd. Raymond James Financial reiterated an “outperform” rating and set a $105.00 target price on shares of Haemonetics in a research report on Friday, August 7th. Finally, Robert W. Baird set a $96.00 price target on shares of Haemonetics in a research report on Friday, August 7th. One investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.44.

Read Our Latest Stock Report on Haemonetics

Haemonetics Price Performance

HAE stock traded up $13.04 during trading on Tuesday, reaching $103.31. 391,951 shares of the company were exchanged, compared to its average volume of 842,434. The company has a 50-day moving average of $79.39 and a two-hundred day moving average of $67.33. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 50.44, a P/E/G ratio of 1.82 and a beta of 0.52. Haemonetics has a twelve month low of $47.31 and a twelve month high of $105.85. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 1.91.

Haemonetics (NYSE:HAEGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical instruments supplier reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. The company had revenue of $339.38 million during the quarter, compared to the consensus estimate of $327.86 million. During the same period in the prior year, the business earned $1.10 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Haemonetics will post 5.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Haemonetics in the 4th quarter valued at $26,000. Leonteq Securities AG bought a new position in Haemonetics during the fourth quarter worth $30,000. EverSource Wealth Advisors LLC lifted its holdings in Haemonetics by 2,640.0% in the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 396 shares during the period. Kestra Advisory Services LLC acquired a new position in Haemonetics in the fourth quarter valued at $34,000. Finally, Bayforest Capital Ltd bought a new stake in Haemonetics during the fourth quarter valued at $40,000. Institutional investors own 99.67% of the company’s stock.

About Haemonetics

(Get Free Report)

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.

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