Haemonetics (NYSE:HAE – Get Rating) had its target price increased by equities research analysts at Morgan Stanley from $70.00 to $74.00 in a report issued on Thursday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the medical instruments supplier’s stock. Morgan Stanley’s price target suggests a potential downside of 1.60% from the stock’s current price.
Several other equities analysts have also recently issued reports on HAE. Raymond James lifted their price objective on shares of Haemonetics from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com raised shares of Haemonetics from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. JMP Securities lifted their price objective on shares of Haemonetics from $80.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Barrington Research lifted their price objective on shares of Haemonetics from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.80.
Haemonetics Stock Up 2.9 %
Haemonetics stock opened at $75.20 on Thursday. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 57.41 and a beta of 0.39. The company has a current ratio of 3.81, a quick ratio of 1.05 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $65.76 and its two-hundred day moving average price is $59.54. Haemonetics has a 52 week low of $43.50 and a 52 week high of $77.08.
Insiders Place Their Bets
In other Haemonetics news, CEO Christopher Simon sold 832 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $56.10, for a total value of $46,675.20. Following the completion of the transaction, the chief executive officer now directly owns 191,327 shares in the company, valued at $10,733,444.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Christopher Simon sold 832 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $56.10, for a total transaction of $46,675.20. Following the completion of the sale, the chief executive officer now directly owns 191,327 shares in the company, valued at $10,733,444.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stewart W. Strong sold 1,084 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $59.10, for a total transaction of $64,064.40. Following the sale, the insider now owns 15,756 shares of the company’s stock, valued at $931,179.60. The disclosure for this sale can be found here. Insiders sold a total of 8,095 shares of company stock worth $482,496 over the last ninety days. 1.65% of the stock is currently owned by company insiders.
Institutional Trading of Haemonetics
Several institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC acquired a new stake in Haemonetics in the first quarter valued at approximately $25,000. SeaCrest Wealth Management LLC acquired a new stake in Haemonetics in the second quarter valued at approximately $65,000. FNY Investment Advisers LLC acquired a new stake in Haemonetics in the second quarter valued at approximately $75,000. Fifth Third Bancorp lifted its stake in Haemonetics by 100.2% in the fourth quarter. Fifth Third Bancorp now owns 1,932 shares of the medical instruments supplier’s stock valued at $102,000 after acquiring an additional 967 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Haemonetics by 33.4% in the first quarter. Captrust Financial Advisors now owns 2,335 shares of the medical instruments supplier’s stock valued at $148,000 after purchasing an additional 585 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.
Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous 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.
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