Zacks Investment Research upgraded shares of Haemonetics Corporation (NYSE:HAE) from a hold rating to a buy rating in a research note published on Thursday. Zacks Investment Research currently has $46.00 price objective on the medical instruments supplier’s stock.

According to Zacks, “Over the last  month, Haemonetics has been trading above the broader industry. The company swung to operating income in the last reported first quarter from losses in the year-ago quarter. Also the year-over-year increase in reported sales and gross margin buoys optimism. Meanwhile, the company’s strong cash position boosts investors’ confidence. The company is also optimistic about strong market adoption of its NexSys PCS plasmapheresis system which recently received FDA approval. On the flip side, despite the encouraging growth in the Plasma and Haemonetics Management franchises, the underperformance at BloodCenter was quite a dampener in the last reported quarter.  Moreover, currency headwinds and tough competitive landscape may continue to pose challenges for the company going forward.”

A number of other equities analysts have also recently issued reports on the company. TheStreet upgraded Haemonetics Corporation from a c rating to a b- rating in a report on Monday, August 7th. BidaskClub upgraded Haemonetics Corporation from a strong sell rating to a sell rating in a report on Tuesday, August 8th. Barrington Research upgraded Haemonetics Corporation from a market perform rating to an outperform rating and set a $48.00 price objective for the company in a report on Tuesday, August 8th. Jefferies Group LLC restated a buy rating and set a $48.00 price objective on shares of Haemonetics Corporation in a report on Thursday, July 27th. Finally, JMP Securities upgraded Haemonetics Corporation from a market perform rating to an outperform rating and set a $50.00 price objective for the company in a report on Thursday, July 13th. Two analysts have 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 currently has an average rating of Hold and a consensus target price of $40.71.

Haemonetics Corporation (HAE) opened at 41.50 on Thursday. The company has a 50-day moving average of $40.94 and a 200-day moving average of $40.32. Haemonetics Corporation has a one year low of $32.76 and a one year high of $43.74. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 538.96 and a beta of 0.90.

Haemonetics Corporation (NYSE:HAE) last posted its quarterly earnings data on Monday, August 7th. The medical instruments supplier reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Haemonetics Corporation had a return on equity of 11.07% and a net margin of 0.48%. The company had revenue of $211 million during the quarter, compared to analysts’ expectations of $211.29 million. During the same quarter in the previous year, the business earned $0.25 EPS. Haemonetics Corporation’s revenue was up .5% compared to the same quarter last year. Equities research analysts expect that Haemonetics Corporation will post $1.61 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the company. Verition Fund Management LLC purchased a new stake in shares of Haemonetics Corporation during the second quarter valued at $452,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Haemonetics Corporation during the second quarter valued at $448,000. Susquehanna International Group LLP purchased a new stake in shares of Haemonetics Corporation during the second quarter valued at $445,000. The Manufacturers Life Insurance Company boosted its stake in shares of Haemonetics Corporation by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 39,906 shares of the medical instruments supplier’s stock valued at $1,575,000 after buying an additional 488 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Haemonetics Corporation during the second quarter valued at $6,115,000.

Haemonetics Corporation Company Profile

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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