Barrington Research Boosts Haemonetics (NYSE:HAE) Price Target to $107.00

Haemonetics (NYSE:HAE) had its price objective increased by investment analysts at Barrington Research from $105.00 to $107.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price target would indicate a potential upside of 13.08% from the company’s current price.

HAE has been the subject of a number of other research reports. TheStreet cut shares of Haemonetics from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. Needham & Company LLC restated a “hold” rating on shares of Haemonetics in a report on Friday. Finally, StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Haemonetics currently has a consensus rating of “Hold” and a consensus price target of $105.33.

Haemonetics Stock Up 2.2 %

Haemonetics stock traded up $2.02 during trading hours on Friday, hitting $94.62. 47,687 shares of the stock traded hands, compared to its average volume of 459,045. The company has a current ratio of 2.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.91. The firm’s 50-day moving average price is $83.98 and its two-hundred day moving average price is $82.88. Haemonetics has a one year low of $70.74 and a one year high of $97.13. The company has a market cap of $4.81 billion, a PE ratio of 38.59, a PEG ratio of 2.23 and a beta of 0.34.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Haemonetics had a return on equity of 22.37% and a net margin of 9.97%. The business had revenue of $343.00 million during the quarter, compared to analyst estimates of $329.53 million. During the same quarter in the prior year, the business posted $0.77 EPS. Haemonetics’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts forecast that Haemonetics will post 3.95 EPS for the current year.

Insider Buying and Selling at Haemonetics

In other news, EVP Anila Lingamneni sold 2,305 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $95.00, for a total transaction of $218,975.00. Following the sale, the executive vice president now owns 12,295 shares in the company, valued at approximately $1,168,025. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Haemonetics by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,406,309 shares of the medical instruments supplier’s stock worth $462,293,000 after buying an additional 25,451 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Haemonetics by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 3,268,083 shares of the medical instruments supplier’s stock worth $279,454,000 after buying an additional 101,029 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Haemonetics by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 826,731 shares of the medical instruments supplier’s stock worth $70,697,000 after buying an additional 59,670 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Haemonetics by 27.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after buying an additional 152,098 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Haemonetics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 534,694 shares of the medical instruments supplier’s stock worth $45,722,000 after buying an additional 8,901 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Company Profile

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 intravenous 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.