Jefferies Financial Group Raises Haemonetics (NYSE:HAE) Price Target to $140.00

Haemonetics (NYSE:HAE) had its price target hoisted by Jefferies Financial Group from $125.00 to $140.00 in a research report sent to investors on Friday, The Fly reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other research analysts also recently commented on HAE. Zacks Investment Research upgraded Haemonetics from a sell rating to a hold rating in a research report on Tuesday, April 9th. TheStreet upgraded Haemonetics from a c+ rating to a b- rating in a research report on Tuesday, May 7th. Raymond James upgraded Haemonetics from a market perform rating to an outperform rating and set a $110.00 target price for the company in a research report on Tuesday, May 14th. Finally, Barrington Research reiterated an outperform rating and set a $116.00 target price (up from $112.00) on shares of Haemonetics in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $121.60.

HAE stock traded down $4.18 during midday trading on Friday, hitting $117.40. The company’s stock had a trading volume of 17,915 shares, compared to its average volume of 310,032. Haemonetics has a 12 month low of $80.24 and a 12 month high of $125.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.44 and a quick ratio of 1.62. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 3.08 and a beta of 0.82. The business has a 50 day moving average price of $120.16.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. Haemonetics had a return on equity of 18.88% and a net margin of 5.69%. The business had revenue of $249.30 million during the quarter, compared to the consensus estimate of $250.62 million. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts expect that Haemonetics will post 2.93 EPS for the current year.

In related news, CEO Christopher Simon sold 5,008 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $121.79, for a total transaction of $609,924.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jacqueline Scanlan sold 3,646 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $112.49, for a total value of $410,138.54. The disclosure for this sale can be found here. Insiders have sold a total of 105,754 shares of company stock valued at $10,455,709 over the last quarter. Corporate insiders own 1.32% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. increased its stake in shares of Haemonetics by 3.0% during the second quarter. Eagle Asset Management Inc. now owns 578,970 shares of the medical instruments supplier’s stock valued at $69,673,000 after buying an additional 16,803 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Haemonetics during the second quarter valued at $257,000. Hillsdale Investment Management Inc. increased its stake in shares of Haemonetics by 23.2% during the second quarter. Hillsdale Investment Management Inc. now owns 6,900 shares of the medical instruments supplier’s stock valued at $830,000 after buying an additional 1,300 shares during the period. Wagner Bowman Management Corp purchased a new position in shares of Haemonetics during the second quarter valued at $270,000. Finally, Swiss National Bank increased its stake in shares of Haemonetics by 0.7% during the second quarter. Swiss National Bank now owns 94,900 shares of the medical instruments supplier’s stock valued at $11,420,000 after buying an additional 700 shares during the period. Institutional investors own 98.53% of the company’s stock.

Haemonetics Company Profile

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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