why Haemonetics Corporation [HAE] is a Good Choice for Investors After New Price Target of $155.71

Haemonetics Corporation [NYSE: HAE] traded at a low on 04/19/21, posting a -36.15 loss after which it closed the day’ session at $74.68. The company report on April 19, 2021 that Haemonetics Provides Update On U.S. Plasma Business.

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Haemonetics Corporation (NYSE: HAE) (“Haemonetics” or the “Company”), a global medical technology company focused on delivering innovative medical solutions to drive better patient outcomes, announced that CSL Plasma, Ltd. (“CSL”) has informed Haemonetics of its intent not to renew its Supply Agreement with Haemonetics for the use of PCS2® Plasma Collection System devices and the purchase of disposable plasmapheresis kits in the U.S. following the expiration of the current term in June 2022. Haemonetics was informed that the decision was based on changes in CSL’s internal strategy and was not related to product or service quality.

This notice of intent not to renew is specific to Haemonetics’ plasmapheresis equipment and disposables Supply Agreement for CSL’s U.S. plasma collection centers. In fiscal year 2020, Haemonetics revenue under this Supply Agreement was $117 million, or 11.8% of total Company revenue, with a gross margin similar to total Company adjusted gross margin. The Company expects to incur an approximately $25 million one-time impairment relating to disposables manufacturing equipment and an estimated $7 million in additional expenses in the fourth quarter of fiscal 2021 in relation to this announcement. Haemonetics remains committed to supporting CSL in other geographies and capacities, representing approximately 1% of total Company revenue in fiscal year 2020, and will continue to support CSL’s plans to roll out NexSys PCS® plasmapheresis devices in Europe under the recently executed agreement with CSL.

The results of the trading session contributed to over 6630853 shares changing hands. Over the past one week, the price volatility of Haemonetics Corporation stands at 6.99% while the volatility over the past one month is 3.86%.

The market cap for HAE stock reached $3.85 billion, with 50.79 million shares outstanding and 50.52 million shares in the current float. Compared to the average trading volume of 410.56K shares, HAE reached a trading volume of 6630853 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Haemonetics Corporation [HAE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HAE shares is $155.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HAE stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CJS Securities have made an estimate for Haemonetics Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on April 19, 2021. The new note on the price target was released on February 03, 2021, representing the official price target for Haemonetics Corporation stock.

The Average True Range (ATR) for Haemonetics Corporation is set at 5.92, with the Price to Sales ratio for HAE stock in the period of the last 12 months amounting to 4.35. The Price to Book ratio for the last quarter was 5.27, with the Price to Cash per share for the same quarter was set at 3.67. Price to Free Cash Flow for HAE in the course of the last twelve months was 32.71 with Quick ratio for the last quarter at 1.90.

How has HAE stock performed recently?

Haemonetics Corporation [HAE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -35.94. With this latest performance, HAE shares dropped by -34.23% in over the last four-week period, additionally sinking by -21.67% over the last 6 months – not to mention a drop of -30.58% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HAE stock in for the last two-week period is set at 15.33, with the RSI for the last a single of trading hit 10.97, and the three-weeks RSI is set at 19.67 for Haemonetics Corporation [HAE]. The present Moving Average for the last 50 days of trading for this stock 121.21, while it was recorded at 108.94 for the last single week of trading, and 106.44 for the last 200 days.

Haemonetics Corporation [HAE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Haemonetics Corporation [HAE] shares currently have an operating margin of +19.73 and a Gross Margin at +51.50. Haemonetics Corporation’s Net Margin is presently recorded at +7.74.

Return on Total Capital for HAE is now 19.06, given the latest momentum, and Return on Invested Capital for the company is 7.91. Return on Equity for this stock inclined to 12.20, with Return on Assets sitting at 6.02. When it comes to the capital structure of this company, Haemonetics Corporation [HAE] has a Total Debt to Total Equity ratio set at 75.25. Additionally, HAE Total Debt to Total Capital is recorded at 42.94, with Total Debt to Total Assets ending up at 34.87. Long-Term Debt to Equity for the company is recorded at 60.90, with the Long-Term Debt to Total Capital now at 34.75.

Reflecting on the efficiency of the workforce at the company, Haemonetics Corporation [HAE] managed to generate an average of $25,475 per employee. Receivables Turnover for the company is 5.64 with a Total Asset Turnover recorded at a value of 0.78.Haemonetics Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 3.40.

Earnings analysis for Haemonetics Corporation [HAE]

With the latest financial reports released by the company, Haemonetics Corporation posted 0.69/share EPS, while the average EPS was predicted by analysts to be reported at 0.73/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HAE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Haemonetics Corporation go to 10.00%.

Insider trade positions for Haemonetics Corporation [HAE]

There are presently around $3,708 million, or 98.50% of HAE stock, in the hands of institutional investors. The top three institutional holders of HAE stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 5,637,735, which is approximately 16.832% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 4,852,282 shares of the stock with an approximate value of $362.37 million in HAE stocks shares; and BLACKROCK INC., currently with $351.04 million in HAE stock with ownership of nearly -3.911% of the company’s market capitalization.

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Positions in Haemonetics Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 130 institutional holders increased their position in Haemonetics Corporation [NYSE:HAE] by around 5,276,448 shares. Additionally, 148 investors decreased positions by around 5,171,272 shares, while 41 investors held positions by with 39,206,399 shares. The mentioned changes placed institutional holdings at 49,654,119 shares, according to the latest SEC report filing. HAE stock had 52 new institutional investments in for a total of 2,765,972 shares, while 30 institutional investors sold positions of 514,759 shares during the same period.

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