Haemonetics (NYSE:HAE) Given Buy Rating at Needham & Company LLC

Haemonetics (NYSE:HAE)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $112.00 price objective on the medical instruments supplier’s stock. Needham & Company LLC’s price target suggests a potential upside of 31.26% from the company’s previous close.

Several other equities analysts also recently commented on HAE. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research report on Friday, November 8th. Citigroup reduced their price objective on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a research report on Tuesday, August 13th. BTIG Research began coverage on shares of Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price target on the stock. Finally, CL King assumed coverage on shares of Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.88.

Haemonetics Stock Performance

Haemonetics stock traded down $2.15 during midday trading on Tuesday, hitting $85.33. The stock had a trading volume of 79,289 shares, compared to its average volume of 552,627. Haemonetics has a 52-week low of $70.25 and a 52-week high of $97.97. The company has a market capitalization of $4.29 billion, a PE ratio of 35.41, a P/E/G ratio of 1.36 and a beta of 0.38. The firm’s fifty day moving average is $80.21 and its two-hundred day moving average is $82.00. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data 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. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The firm had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. During the same period in the prior year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Haemonetics will post 4.59 EPS for the current year.

Hedge Funds Weigh In On Haemonetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in Haemonetics in the second quarter worth $39,000. Daiwa Securities Group Inc. bought a new stake in shares of Haemonetics in the 2nd quarter worth about $82,000. Canada Pension Plan Investment Board bought a new stake in shares of Haemonetics in the 2nd quarter worth about $83,000. Nisa Investment Advisors LLC grew its holdings in Haemonetics by 124.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after purchasing an additional 632 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Haemonetics during the 2nd quarter valued at about $140,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.