Raymond James Upgrades Haemonetics (NYSE:HAE) to “Strong-Buy”

Haemonetics (NYSE:HAE) was upgraded by Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued on Friday,Briefing.com Automated Import reports. The firm currently has a $120.00 price target on the medical instruments supplier’s stock. Raymond James’ price objective would suggest a potential upside of 38.68% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a report on Monday, September 23rd. Citigroup cut their target price on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a research report on Tuesday, August 13th. Bank of America initiated coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price objective for the company. Finally, BTIG Research initiated coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.88.

Haemonetics Stock Performance

Shares of HAE stock opened at $86.53 on Friday. The firm has a 50-day moving average of $75.42 and a 200-day moving average of $82.60. The company has a market cap of $4.43 billion, a P/E ratio of 38.80, a P/E/G ratio of 1.15 and a beta of 0.32. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. Haemonetics has a one year low of $70.25 and a one year high of $97.97.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The firm had revenue of $336.17 million during the quarter, compared to analysts’ expectations of $335.08 million. During the same quarter in the prior year, the company earned $1.05 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts forecast that Haemonetics will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Haemonetics in the 2nd quarter worth approximately $39,000. Covestor Ltd raised its position in shares of Haemonetics by 184.8% in the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after acquiring an additional 438 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Haemonetics in the 2nd quarter worth approximately $82,000. Canada Pension Plan Investment Board bought a new position in shares of Haemonetics in the 2nd quarter worth approximately $83,000. Finally, EntryPoint Capital LLC bought a new position in Haemonetics during the 1st quarter valued at approximately $86,000. Institutional investors own 99.67% of the company’s stock.

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.