Haemonetics’ (HAE) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Haemonetics (NYSE:HAE) in a research note issued to investors on Friday,Benzinga reports. They currently have a $112.00 price target on the medical instruments supplier’s stock.

Other equities research analysts have also issued research reports about the stock. Raymond James upgraded shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a research note on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research report on Friday, November 8th. CL King initiated coverage on Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price target for the company. Citigroup decreased their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price objective on shares of Haemonetics in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.88.

Haemonetics Stock Performance

Shares of NYSE HAE traded down $1.53 during mid-day trading on Friday, hitting $89.22. The company had a trading volume of 564,401 shares, compared to its average volume of 555,780. Haemonetics has a 12 month low of $70.25 and a 12 month high of $97.97. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 1.43 and a beta of 0.32. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. The firm’s 50 day simple moving average is $77.55 and its two-hundred day simple moving average is $82.75.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. During the same period last year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research 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 business. Quarry LP bought a new position in shares of Haemonetics in the second quarter valued at $39,000. Covestor Ltd raised its position in shares of Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 438 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Haemonetics during the second quarter valued at $82,000. Canada Pension Plan Investment Board acquired a new position in shares of Haemonetics in the 2nd quarter valued at $83,000. Finally, EntryPoint Capital LLC purchased a new position in Haemonetics in the 1st quarter worth about $86,000. 99.67% of the stock is currently owned by institutional investors.

Haemonetics Company Profile

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.