Barrington Remains a Hold on Haemonetics (HAE)

By Carrie Williams

In a report released today, Michael Petusky from Barrington maintained a Hold rating on Haemonetics (HAEResearch Report). The company’s shares closed last Tuesday at $86.26.

According to TipRanks.com, Petusky is a 4-star analyst with an average return of 4.0% and a 48.6% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Varian Medical Systems, Merit Medical Systems, and US Physical Therapy.

Haemonetics has an analyst consensus of Strong Buy, with a price target consensus of $121.00.

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Based on Haemonetics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $196 million and net profit of $10.53 million. In comparison, last year the company earned revenue of $238 million and had a GAAP net loss of $8.48 million.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HAE in relation to earlier this year.

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Haemonetics Corp. engages in the development and distribution of hematology products and solutions. It operates through the following geographical segments: Japan, EMEA (Europe, the Middle East, and Africa), North America Plasma, and All Other. Its products include surgical and diagnostic devices, blood and plasma center devices, blood center software, hospital software, and plasma center software. The company was founded by Allen Latham, Jr. in 1971 and is headquartered in Braintree, MA.