Raymond James upgraded shares of Haemonetics (NYSE:HAE) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Benzinga reports. Raymond James currently has $110.00 price objective on the medical instruments supplier’s stock.
Several other research analysts have also commented on the company. TheStreet raised Haemonetics from a c+ rating to a b- rating in a research report on Tuesday, May 7th. Barrington Research reaffirmed an outperform rating and set a $116.00 price target (up previously from $112.00) on shares of Haemonetics in a research report on Wednesday, May 8th. Zacks Investment Research raised Haemonetics from a sell rating to a hold rating in a research report on Tuesday, April 9th. Finally, ValuEngine lowered Haemonetics from a strong-buy rating to a buy rating in a research report on Tuesday, February 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Haemonetics currently has an average rating of Buy and a consensus target price of $118.60.
Shares of NYSE HAE traded down $1.52 during midday trading on Tuesday, hitting $100.27. 9,438 shares of the company’s stock were exchanged, compared to its average volume of 600,422. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.62 and a current ratio of 2.44. Haemonetics has a twelve month low of $80.24 and a twelve month high of $117.56. The firm has a market capitalization of $5.07 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.54 and a beta of 0.85.
Haemonetics (NYSE:HAE) last released its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.61 EPS for the quarter, topping the consensus estimate of $0.55 by $0.06. The company had revenue of $249.30 million for the quarter, compared to analyst estimates of $250.62 million. Haemonetics had a return on equity of 18.88% and a net margin of 5.69%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, sell-side analysts forecast that Haemonetics will post 2.91 earnings per share for the current fiscal year.
In other Haemonetics news, EVP Michelle L. Basil sold 391 shares of Haemonetics stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $83.57, for a total value of $32,675.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jacqueline Scanlan sold 1,508 shares of Haemonetics stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $100.00, for a total value of $150,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,808 shares of company stock worth $5,920,731. 1.04% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. BlueMountain Capital Management LLC grew its stake in shares of Haemonetics by 27.1% in the 1st quarter. BlueMountain Capital Management LLC now owns 122,612 shares of the medical instruments supplier’s stock valued at $10,726,000 after purchasing an additional 26,127 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Haemonetics in the 1st quarter valued at approximately $996,000. BlueCrest Capital Management Ltd purchased a new position in shares of Haemonetics in the 1st quarter valued at approximately $574,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Haemonetics by 208.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,513 shares of the medical instruments supplier’s stock valued at $221,000 after purchasing an additional 1,698 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Haemonetics by 4.4% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 97,926 shares of the medical instruments supplier’s stock valued at $8,567,000 after purchasing an additional 4,126 shares during the last quarter. Institutional investors own 98.31% of the company’s stock.
Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.
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