JMP Securities Cuts Haemonetics (NYSE:HAE) Price Target to $100.00

Haemonetics (NYSE:HAE) had its target price reduced by stock analysts at JMP Securities from $125.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the medical instruments supplier’s stock. JMP Securities’ price target points to a potential upside of 63.93% from the company’s current price.

HAE has been the topic of a number of other reports. Needham & Company LLC cut their price target on shares of Haemonetics from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Friday. Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. started coverage on Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 price objective for the company. Bank of America cut shares of Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $95.00 to $68.00 in a research report on Friday. Finally, Barrington Research dropped their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.22.

Haemonetics Stock Performance

Haemonetics stock traded down $1.99 during trading on Friday, reaching $61.00. The company had a trading volume of 849,492 shares, compared to its average volume of 866,098. Haemonetics has a 52 week low of $61.30 and a 52 week high of $97.97. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.07 and a beta of 0.39. The firm’s 50-day simple moving average is $76.94 and its 200 day simple moving average is $78.62. 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 results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. Sell-side analysts forecast that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

A number of institutional investors have recently modified their holdings of the business. Global Alpha Capital Management Ltd. purchased a new stake in shares of Haemonetics in the third quarter valued at approximately $806,000. Loomis Sayles & Co. L P boosted its holdings in Haemonetics by 8.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 163,856 shares of the medical instruments supplier’s stock worth $13,171,000 after buying an additional 12,310 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Haemonetics by 174.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,949 shares of the medical instruments supplier’s stock worth $1,362,000 after purchasing an additional 10,774 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Haemonetics by 10.9% during the third quarter. Westfield Capital Management Co. LP now owns 823,663 shares of the medical instruments supplier’s stock worth $66,206,000 after purchasing an additional 80,783 shares during the period. Finally, Boston Trust Walden Corp lifted its holdings in Haemonetics by 13.1% in the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier’s stock valued at $71,500,000 after acquiring an additional 106,114 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.