Jefferies Group Boosts Haemonetics (HAE) Price Target to $75.00

Haemonetics (NYSE:HAE) had its target price lifted by stock analysts at Jefferies Group from $18.00 to $75.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Jefferies Group’s price target points to a potential upside of 19.62% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, October 25th. Morgan Stanley lifted their price target 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. Craig Hallum reissued a “hold” rating and set a $50.00 price target (up from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Barrington Research lifted their price target 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. Finally, Raymond James Financial raised shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.83.

Haemonetics (NYSE HAE) opened at $62.70 on Monday. Haemonetics has a 12-month low of $36.44 and a 12-month high of $63.90. The stock has a market cap of $3,311.70, a PE ratio of 783.85, a P/E/G ratio of 4.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.17.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Haemonetics had a net margin of 0.50% and a return on equity of 11.16%. The company had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $219.12 million. During the same period last year, the company posted $0.38 EPS. Haemonetics’s revenue was up 2.3% on a year-over-year basis. equities analysts anticipate that Haemonetics will post 1.7 earnings per share for the current year.

In other Haemonetics news, Director Susan Bartlett Foote sold 16,926 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $54.19, for a total transaction of $917,219.94. Following the completion of the sale, the director now directly owns 27,313 shares in the company, valued at approximately $1,480,091.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald G. Gelbman sold 5,440 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $56.69, for a total transaction of $308,393.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,486 shares of company stock valued at $3,050,827. 1.20% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC increased its stake in Haemonetics by 79.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,407 shares of the medical instruments supplier’s stock valued at $135,000 after purchasing an additional 1,507 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of Haemonetics in the second quarter worth approximately $174,000. Shelton Capital Management bought a new stake in shares of Haemonetics in the second quarter worth approximately $204,000. Cubist Systematic Strategies LLC bought a new stake in shares of Haemonetics in the second quarter worth approximately $260,000. Finally, Amalgamated Bank grew its stake in shares of Haemonetics by 5.7% in the second quarter. Amalgamated Bank now owns 7,322 shares of the medical instruments supplier’s stock worth $289,000 after acquiring an additional 392 shares during the period.

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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.

The Fly

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