Needham & Company LLC Reaffirms Buy Rating for Haemonetics (NYSE:HAE)

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

Several other research firms have also issued reports on HAE. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. BTIG Research initiated coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. Barrington Research restated an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a report on Friday, November 8th. CL King assumed coverage on shares of Haemonetics in a report on Friday, September 13th. They set a “buy” rating and a $116.00 target price on the stock. Finally, Citigroup dropped their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, 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 stock has a 50 day moving average of $77.55 and a 200 day moving average of $82.75. 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 firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 1.43 and a beta of 0.32. Haemonetics has a fifty-two week low of $70.25 and a fifty-two week high of $97.97.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating the consensus estimate of $1.09 by $0.03. The business 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 company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, research analysts predict that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

Several institutional investors have recently added to or reduced their stakes in HAE. ProShare Advisors LLC lifted its position in shares of Haemonetics by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 11,490 shares of the medical instruments supplier’s stock worth $981,000 after buying an additional 516 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Haemonetics by 15.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,475 shares of the medical instruments supplier’s stock valued at $1,363,000 after acquiring an additional 2,160 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Haemonetics in the first quarter valued at $1,723,000. Covestor Ltd grew its holdings 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 last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Haemonetics by 13.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 50,728 shares of the medical instruments supplier’s stock worth $4,330,000 after purchasing an additional 5,933 shares in the last quarter. Hedge funds and other institutional investors 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.