Haemonetics (HAE) Rating Reiterated by Barrington Research
Barrington Research reaffirmed their outperform rating on shares of Haemonetics (NYSE:HAE) in a research report released on Wednesday morning, Marketbeat.com reports. They currently have a $71.00 target price on the medical instruments supplier’s stock, up from their prior target price of $57.00. Barrington Research also issued estimates for Haemonetics’ Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.85 EPS, Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.49 EPS, FY2019 earnings at $2.05 EPS and FY2020 earnings at $2.35 EPS.
A number of other equities analysts have also recently commented on HAE. Zacks Investment Research raised shares of Haemonetics from a hold rating to a buy rating and set a $52.00 price objective for the company in a research report on Wednesday, October 25th. Craig Hallum reaffirmed a hold rating and set a $50.00 price objective (up from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Morgan Stanley boosted their target price on shares of Haemonetics from $43.00 to $51.00 and gave the company an equal weight rating in a research report on Thursday, November 9th. Raymond James Financial raised shares of Haemonetics from an underperform rating to a market perform rating in a research report on Tuesday, January 2nd. Finally, Jefferies Group boosted their target price on shares of Haemonetics from $18.00 to $75.00 and gave the company a buy rating in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Haemonetics has a consensus rating of Buy and an average target price of $71.33.
Haemonetics (NYSE HAE) opened at $68.70 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. Haemonetics has a 52-week low of $37.07 and a 52-week high of $72.33. The company has a market cap of $3,680.93, a price-to-earnings ratio of -202.05, a price-to-earnings-growth ratio of 3.41 and a beta of 1.06.
Haemonetics announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 6th that allows the company to repurchase $260.00 million in shares. This repurchase authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other news, CAO Dan Goldstein sold 4,691 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.93, for a total value of $257,676.63. Following the completion of the sale, the chief accounting officer now owns 3,747 shares of the company’s stock, valued at $205,822.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willaim P. Burke sold 13,193 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $54.04, for a total transaction of $712,949.72. Following the completion of the sale, the chief financial officer now directly owns 27,227 shares of the company’s stock, valued at approximately $1,471,347.08. The disclosure for this sale can be found here. In the last three months, insiders sold 37,560 shares of company stock valued at $2,133,607. 1.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of HAE. Teachers Advisors LLC raised its stake in Haemonetics by 6.6% in the second quarter. Teachers Advisors LLC now owns 95,225 shares of the medical instruments supplier’s stock valued at $3,760,000 after purchasing an additional 5,863 shares in the last quarter. Amalgamated Bank raised its stake in Haemonetics by 5.7% in the second quarter. Amalgamated Bank now owns 7,322 shares of the medical instruments supplier’s stock valued at $289,000 after purchasing an additional 392 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Haemonetics by 2.7% in the second quarter. UBS Asset Management Americas Inc. now owns 28,153 shares of the medical instruments supplier’s stock valued at $1,112,000 after purchasing an additional 742 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Haemonetics in the second quarter valued at about $366,000. Finally, Northern Trust Corp raised its stake in Haemonetics by 8.8% in the second quarter. Northern Trust Corp now owns 688,580 shares of the medical instruments supplier’s stock valued at $27,192,000 after purchasing an additional 55,511 shares in the last quarter.
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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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