Haemonetics (NYSE:HAE) had its price target raised by Morgan Stanley from $74.00 to $77.00 in a research note published on Wednesday, February 7th. Morgan Stanley currently has an overweight rating on the medical instruments supplier’s stock.
HAE has been the subject of several other research reports. Zacks Investment Research downgraded Haemonetics from a buy rating to a hold rating in a research note on Monday, November 20th. Barrington Research restated an outperform rating and issued a $71.00 target price (up previously from $57.00) on shares of Haemonetics in a research note on Wednesday, February 7th. Jefferies Group restated a buy rating and issued a $80.00 target price on shares of Haemonetics in a research note on Wednesday, February 7th. Raymond James Financial upgraded Haemonetics from an underperform rating to a market perform rating in a research note on Tuesday, January 2nd. Finally, Craig Hallum restated a hold rating and issued a $50.00 target price (up previously from $40.00) on shares of Haemonetics in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $71.33.
Shares of Haemonetics (HAE) traded up $0.33 on Wednesday, reaching $69.95. The company had a trading volume of 159,134 shares, compared to its average volume of 509,037. Haemonetics has a 52 week low of $37.20 and a 52 week high of $72.33. The stock 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 current ratio of 1.82, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14.
Haemonetics announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 6th that allows the company to buyback $260.00 million in shares. This buyback authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Mark W. Kroll sold 7,118 shares of Haemonetics stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $63.00, for a total transaction of $448,434.00. Following the completion of the sale, the director now owns 33,881 shares in the company, valued at approximately $2,134,503. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of Haemonetics by 2,845.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,885 shares of the medical instruments supplier’s stock valued at $110,000 after acquiring an additional 1,821 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Haemonetics in the 4th quarter worth approximately $210,000. Everence Capital Management Inc. bought a new stake in Haemonetics in the 4th quarter worth approximately $212,000. First Allied Advisory Services Inc. bought a new stake in Haemonetics in the 4th quarter worth approximately $220,000. Finally, Tyers Asset Management LLC lifted its position in Haemonetics by 20.7% in the 4th quarter. Tyers Asset Management LLC now owns 4,192 shares of the medical instruments supplier’s stock worth $243,000 after buying an additional 720 shares during the last quarter.
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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