Haemonetics Co. (NYSE:HAE) shares traded up 0.6% during trading on Thursday after Morgan Stanley raised their price target on the stock from $74.00 to $77.00. Morgan Stanley currently has an overweight rating on the stock. Haemonetics traded as high as $70.89 and last traded at $69.33. 569,278 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 447,012 shares. The stock had previously closed at $69.73.

A number of other research analysts have also recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $71.00 price objective (up from $57.00) on shares of Haemonetics in a report on Wednesday. JMP Securities reiterated an “outperform” rating and issued a $72.00 price objective on shares of Haemonetics in a report on Wednesday. Jefferies Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Haemonetics in a report on Wednesday. Zacks Investment Research cut Haemonetics from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Raymond James Financial raised Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Haemonetics presently has a consensus rating of “Hold” and an average price target of $70.00.

In other Haemonetics news, Director Mark W. Kroll sold 7,118 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.00, for a total value of $448,434.00. Following the sale, the director now owns 33,881 shares of the company’s stock, valued at $2,134,503. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Dan Goldstein sold 4,691 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.93, for a total value of $257,676.63. Following the sale, the chief accounting officer now directly owns 3,747 shares in the company, valued at approximately $205,822.71. The disclosure for this sale can be found here. In the last three months, insiders sold 37,560 shares of company stock worth $2,133,607. 1.20% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of HAE. Victory Capital Management Inc. increased its position in shares of Haemonetics by 18.7% during the third quarter. Victory Capital Management Inc. now owns 2,414,526 shares of the medical instruments supplier’s stock worth $108,340,000 after acquiring an additional 381,012 shares during the period. Acadian Asset Management LLC increased its position in shares of Haemonetics by 100.8% during the fourth quarter. Acadian Asset Management LLC now owns 524,768 shares of the medical instruments supplier’s stock worth $30,479,000 after acquiring an additional 263,432 shares during the period. Neuberger Berman Group LLC increased its position in shares of Haemonetics by 10.2% during the third quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock worth $92,139,000 after acquiring an additional 189,797 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Haemonetics during the second quarter worth $6,115,000. Finally, American Century Companies Inc. increased its position in shares of Haemonetics by 288.3% during the fourth quarter. American Century Companies Inc. now owns 193,013 shares of the medical instruments supplier’s stock worth $11,210,000 after acquiring an additional 143,309 shares during the period.

The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3,548.92, a PE ratio of -202.55, a price-to-earnings-growth ratio of 4.58 and a beta of 1.06.

Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The firm had revenue of $234.04 million during the quarter, compared to the consensus estimate of $227.79 million. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. equities analysts forecast that Haemonetics Co. will post 1.85 EPS for the current year.

Haemonetics declared that its Board of Directors has approved a share repurchase program on Tuesday, February 6th that permits the company to buyback $260.00 million in shares. This buyback authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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Haemonetics 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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