After JMP Securities and Jefferies gave Haemonetics Corp (NYSE: HAE) a Buy rating last month, the company received another Buy, this time from Barrington. Analyst Michael Petusky maintained a Buy rating on Haemonetics Corp today and set a price target of $112. The company’s shares closed yesterday at $84.61.
Petusky said:
“We are maintaining our OUTPERFORM rating on HAE shares but are reducing our out-year estimates a bit and are lowering our target to $112 from our previous $127. We arrive at our target by attaching a 20x multiple to our adjusted EBITDA estimate for FY/20. We assume about $125 million in net debt 12 months from now. It is important to note that despite the near-term uncertainty and our lowered target, we continue to fully believe in the long-term constructive investment thesis we have held on HAE the past couple of years.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 7.8% and a 51.7% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Varian Medical Systems, Merit Medical Systems, and DENTSPLY SIRONA Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Haemonetics Corp with a $124 average price target, a 46.6% upside from current levels. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $120 price target.
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Haemonetics Corp’s market cap is currently $4.37B and has a P/E ratio of 210.26. The company has a Price to Book ratio of 6.23.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2018, Richard Meelia, a Director at HAE sold 8,196 shares for a total of $843,041.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Haemonetics Corp. is a healthcare company, which 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.
