Haemonetics (NYSE:HAE) Given New $104.00 Price Target at Needham & Company LLC

Haemonetics (NYSE:HAE) had its price objective lowered by Needham & Company LLC from $108.00 to $104.00 in a research report released on Tuesday, Marketbeat reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Several other research firms have also recently weighed in on HAE. JMP Securities lowered their price target on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a report on Friday, February 7th. Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $95.00 to $68.00 in a research report on Friday, February 7th. StockNews.com lowered Haemonetics from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Raymond James reiterated a “strong-buy” rating and set a $115.00 price objective (down from $120.00) on shares of Haemonetics in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. started coverage on Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 price objective on the stock. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.22.

Haemonetics Stock Performance

NYSE:HAE opened at $64.69 on Tuesday. The business’s 50-day moving average price is $68.08 and its two-hundred day moving average price is $75.26. Haemonetics has a twelve month low of $58.80 and a twelve month high of $97.97. The stock has a market cap of $3.25 billion, a P/E ratio of 25.47, a PEG ratio of 1.11 and a beta of 0.43. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. As a group, equities analysts predict that Haemonetics will post 4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Several institutional investors and hedge funds have recently bought and sold shares of HAE. FMR LLC grew its position in Haemonetics by 206.3% during the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after acquiring an additional 521,640 shares during the last quarter. Norges Bank bought a new stake in shares of Haemonetics in the 4th quarter worth approximately $32,803,000. Wellington Management Group LLP grew its position in shares of Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock worth $337,722,000 after buying an additional 363,702 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Haemonetics by 820.5% in the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier’s stock worth $24,748,000 after buying an additional 282,521 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Haemonetics by 434.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 314,067 shares of the medical instruments supplier’s stock worth $24,522,000 after buying an additional 255,338 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors.

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.