In an exciting development for investors, Haemonetics (NYSE:HAE) received an upgrade by StockNews.com from a “buy” rating to a “strong-buy” rating on August 25, 2023.
On Friday, shares of HAE opened at $86.43. The company’s 50-day moving average price stands at $87.87, while the 200-day moving average price is $84.26. It’s worth noting that Haemonetics has experienced a range of activity over the past year, with its fifty-two week low at $71.63 and its fifty-two week high at $95.26. Currently, the stock enjoys a market capitalization of $4.38 billion, with a PE ratio of 32.62 and a PEG ratio of 2.23. Additionally, it has a beta value of 0.42.
Regarding financial health indicators, the company holds a debt-to-equity ratio of 0.87, indicating moderate overall debt levels. Its quick ratio sits at 2.16 and its current ratio stands at 3.38.
Recent reports show various hedge funds and institutional investors altering their positions in HAE stock recently as well. For instance, Dean Capital Management raised its stake by 79% during the second quarter and now owns 5,132 shares of Haemonetics worth approximately $437,000 after purchasing an additional 2,265 shares in the last quarter.
Another institutional investor making moves was Virginia Retirement Systems ET AL which purchased a new position worth around $2,077,000 during the second quarter.
Moreover, Comerica Bank also acquired new holdings in Haemonetics estimated to be valued at about $23,190,000 during Q2.
Legato Capital Management LLC increased its stake in Haemonetics by an impressive 79%, bringing their total ownership to now stand at 5,132 shares which approximately have a value of $437,000.
Lastly, Alliancebernstein L.P. expanded its position in HAE by 9.5% during Q2, owning now 127,385 shares of the stock currently valued at $10,846,000 after purchasing an additional 11,018 shares.
Ultimately, hedge funds and institutional investors now own 99.85% of Haemonetics’ stock.
On August 8th, Haemonetics announced their quarterly earnings results with impressive figures. The company reported earnings per share (EPS) of $1.05 for the quarter, surpassing analyst estimates by $0.32 as they had projected EPS of $0.73. Moreover, their net margin stood at 11.21% while they achieved a return on equity (ROE) of 22.49%. Additionally, Haemonetics recorded revenue of $311.30 million during this period whereas analysts expected it to be around $292.74 million. These financials demonstrate a noteworthy uptick from the same quarter last year when the firm posted an EPS of $0.58 and revenue growth is calculated at an impressive rate of 19%.
Based on these positive results and predictions made by equities analysts about further financial performance throughout Haemonetics’ current fiscal year, it is anticipated that the company will achieve an earnings per share figure of approximately $3.82.
Overall, with the recent upgrade in rating to “strong-buy”, combined with consistent positive financial performance and increased interest from investment institutions and hedge funds, Haemonetics showcases potential opportunities for investors to consider in the medical instruments sector for long-term gains.
Disclaimer: This article is purely informative and does not represent financial advice or endorsement of any specific investment opportunities or strategies.
Haemonetics Corporation
HAE
Strong Buy
Updated on: 04/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Mixed Opinions and Insider Trading Surround Haemonetics (HAE)
In recent news, there has been a surge in equities research analysts’ commentary on Haemonetics (HAE), a leading provider of blood management solutions. These analysts have given their opinions regarding the company’s performance and future prospects.
Barrington Research, for instance, has raised their target price on shares of Haemonetics from $111.00 to $114.00. They have also given the company an “outperform” rating in their research report published on Wednesday, August 9th. On the other hand, JMP Securities increased their target price from $105.00 to $115.00 in their research report released on Friday, May 12th.
Interestingly, two research analysts have rated the stock as a hold while four have assigned a buy rating and one has issued a strong buy rating to the stock. This varying perspective among analysts suggests some level of uncertainty and perplexity surrounding Haemonetics’ current standing in the market.
To gather an overall consensus view on the stock, we refer to data from Bloomberg, which reveals that Haemonetics currently holds a consensus rating of “Moderate Buy” with a consensus target price of $103.67.
Moving away from analyst opinions, there have also been significant insider trading activities within Haemonetics recently. EVP Josep Llorens sold 4,928 shares of the company’s stock in a transaction that took place on Tuesday, July 18th. The average selling price was $90.00 per share, resulting in a total value of $443,520.00 for this sale. Following this transaction, Llorens now owns 18,463 shares valued at $1,661,670.
Another EVP at Haemonetics, Anila Lingamneni, sold 2,304 shares of the company’s stock on Tuesday, May 30th at an average price of $83.33 per share. The total value of this sale amounted to $191,992.32. As a result, Lingamneni now directly owns 16,800 shares of Haemonetics valued at $1,399,944.
It is worth noting that these insider trading activities were disclosed in documents filed with the Securities & Exchange Commission. Such filings provide transparency and allow investors to track significant transactions made by company insiders.
Overall, it seems that Haemonetics has attracted mixed opinions from equities research analysts. While some foresee a positive outlook for the company, others hold a more cautious stance. These conflicting viewpoints contribute to the perplexity surrounding the stock’s performance.
Additionally, the recent insider trading activities indicate that key executives within Haemonetics have taken actions related to their ownership of company shares. It is essential for investors and stakeholders to closely monitor such activities as they may provide insights into the confidence level and future plans of company insiders.
As with any investment decision, thorough research and analysis should be conducted before making any conclusions or taking action based on these observations. The information provided here serves as an overview and should not be considered as financial advice or a recommendation to buy or sell Haemonetics’ stock.
Please refer to official filings with relevant authorities for complete and up-to-date information on Haemonetics’ financials, trading activities, and any other disclosures that may affect investment decisions.
Discussion about this post