Haemonetics (NYSE:HAE) Earns “Buy” Rating from Needham & Company LLC

Haemonetics (NYSE:HAE)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $112.00 target price on the medical instruments supplier’s stock. Needham & Company LLC’s target price would indicate a potential upside of 25.53% from the company’s previous close.

Other research analysts have also issued research reports about the company. CL King began coverage on Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Citigroup dropped their price objective on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. BTIG Research began coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research note on Tuesday, August 13th. Finally, Bank of America assumed coverage on shares of Haemonetics in a report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target for the company. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.88.

Haemonetics Trading Down 1.7 %

Shares of Haemonetics stock opened at $89.22 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The company has a market capitalization of $4.48 billion, a P/E ratio of 37.02, a PEG ratio of 1.43 and a beta of 0.32. Haemonetics has a 1 year low of $70.25 and a 1 year high of $97.97. The company’s fifty day moving average is $77.55 and its two-hundred day moving average is $82.75.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The firm had revenue of $345.50 million for the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. Analysts forecast that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Trading of Haemonetics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its holdings in Haemonetics by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after buying an additional 117 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Haemonetics by 3.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock valued at $392,000 after purchasing an additional 180 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Haemonetics by 6.9% during the second quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock worth $333,000 after purchasing an additional 260 shares during the last quarter. Arizona State Retirement System boosted its position in Haemonetics by 2.0% during the second quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier’s stock worth $1,176,000 after purchasing an additional 272 shares in the last quarter. Finally, Keene & Associates Inc. grew its holdings in Haemonetics by 3.0% in the third quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock valued at $818,000 after purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.