Haemonetics (NYSE:HAE) Stock Price Up 3.5% – Time to Buy?

Haemonetics Co. (NYSE:HAE)’s share price rose 3.5% on Monday . The company traded as high as $64.98 and last traded at $65.20. Approximately 75,392 shares traded hands during trading, a decline of 92% from the average daily volume of 1,001,748 shares. The stock had previously closed at $63.02.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price objective (down previously from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. Needham & Company LLC cut their price target on Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Bank of America cut Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $95.00 to $68.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 target price for the company. Finally, StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.67.

Haemonetics Stock Up 4.4 %

The company’s 50 day simple moving average is $72.24 and its 200-day simple moving average is $76.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97. The firm has a market capitalization of $3.31 billion, a PE ratio of 25.85, a PEG ratio of 1.11 and a beta of 0.39.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. On average, analysts forecast that Haemonetics Co. will post 4.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue grew its stake in Haemonetics by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,880 shares of the medical instruments supplier’s stock worth $472,000 after buying an additional 400 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Haemonetics by 124.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after acquiring an additional 632 shares in the last quarter. F M Investments LLC bought a new position in Haemonetics in the third quarter valued at $8,237,000. Harbor Capital Advisors Inc. increased its stake in Haemonetics by 117.9% in the third quarter. Harbor Capital Advisors Inc. now owns 56,164 shares of the medical instruments supplier’s stock valued at $4,514,000 after acquiring an additional 30,389 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in Haemonetics during the third quarter valued at about $302,000. Hedge funds and other 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.