Haemonetics (NYSE:HAE) Given Outperform Rating at JMP Securities

JMP Securities reaffirmed their outperform rating on shares of Haemonetics (NYSE:HAE) in a research report sent to investors on Wednesday, February 7th. They currently have a $72.00 target price on the medical instruments supplier’s stock.

Several other equities research analysts have also recently weighed in on HAE. Jefferies Group restated a buy rating and issued a $80.00 price target on shares of Haemonetics in a research report on Wednesday, February 7th. Zacks Investment Research cut shares of Haemonetics from a buy rating to a hold rating in a research report on Wednesday, January 10th. Barrington Research boosted their price objective on shares of Haemonetics from $48.00 to $57.00 and gave the company an outperform rating in a research report on Wednesday, November 8th. Craig Hallum reiterated a hold rating and set a $50.00 price objective (up previously from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Finally, Morgan Stanley boosted their price objective 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $71.33.

Shares of Haemonetics (NYSE:HAE) opened at $69.62 on Wednesday. Haemonetics has a 1 year low of $37.20 and a 1 year high of $72.33. The firm has a market cap of $3,700.17, a price-to-earnings ratio of -204.76, a P/E/G ratio of 3.43 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.82 and a quick ratio of 1.33.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.18. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The company had revenue of $234.04 million for the quarter, compared to analysts’ expectations of $227.79 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. Haemonetics’s quarterly revenue was up 2.7% on a year-over-year basis. analysts forecast that Haemonetics will post 1.86 EPS for the current fiscal year.

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

In related news, Director Mark W. Kroll sold 7,118 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $63.00, for a total value of $448,434.00. Following the completion of the sale, the director now directly owns 33,881 shares of the company’s stock, valued at $2,134,503. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in Haemonetics by 3.8% in the third quarter. Janney Montgomery Scott LLC now owns 51,256 shares of the medical instruments supplier’s stock worth $2,300,000 after acquiring an additional 1,879 shares during the period. Rhumbline Advisers lifted its stake in Haemonetics by 2.1% in the third quarter. Rhumbline Advisers now owns 104,669 shares of the medical instruments supplier’s stock worth $4,696,000 after acquiring an additional 2,145 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Haemonetics by 3.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 589,379 shares of the medical instruments supplier’s stock worth $26,446,000 after acquiring an additional 20,925 shares during the period. Boston Advisors LLC lifted its stake in Haemonetics by 83.8% in the third quarter. Boston Advisors LLC now owns 50,825 shares of the medical instruments supplier’s stock worth $2,281,000 after acquiring an additional 23,180 shares during the period. Finally, TCW Group Inc. purchased a new stake in Haemonetics in the third quarter worth about $457,000.

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About Haemonetics

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.

Analyst Recommendations for Haemonetics (NYSE:HAE)

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