Haemonetics Corp (HAE) Receives a New Rating from Barrington


Barrington analyst Michael Petusky initiated coverage with a Buy rating on Haemonetics Corp (HAE) today and set a price target of $139. The company’s shares closed last Monday at $125.75.

Petusky observed:

“We continue to maintain our OUTPERFORM investment rating and our price target remains $139. We arrive at our price target by attaching a 20.5x multiple to our estimated adjusted EBITDA for FY/21. We assume approximately $150 million in net debt 12 months from now.”

According to TipRanks.com, Petusky is a 4-star analyst with an average return of 4.4% and a 52.8% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.

Currently, the analyst consensus on Haemonetics Corp is a Strong Buy with an average price target of $144.25.

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Based on Haemonetics Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $8.48 million. In comparison, last year the company had a GAAP net loss of $2.82 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.

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