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

Haemonetics (NYSE:HAE)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $112.00 price objective on the medical instruments supplier’s stock. Needham & Company LLC’s price objective indicates a potential upside of 25.56% from the stock’s previous close.

HAE has been the subject of a number of other research reports. Barrington Research reaffirmed an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a research report on Friday, November 8th. Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research report on Friday, November 8th. Bank of America initiated coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target on the stock. BTIG Research started coverage on shares of Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 13th. Three 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.88.

Haemonetics Trading Down 1.7 %

Shares of NYSE:HAE traded down $1.55 on Friday, reaching $89.20. 270,810 shares of the company traded hands, compared to its average volume of 554,458. Haemonetics has a 52 week low of $70.25 and a 52 week high of $97.97. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The business’s 50-day simple moving average is $77.23 and its 200 day simple moving average is $82.77. The stock has a market capitalization of $4.48 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 1.43 and a beta of 0.32.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The firm had revenue of $345.50 million during the quarter, compared to the consensus estimate of $342.57 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Haemonetics will post 4.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its holdings in Haemonetics by 6,573.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock worth $70,267,000 after acquiring an additional 836,623 shares during the last quarter. FMR LLC raised its stake in shares of Haemonetics by 206.3% in the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after purchasing an additional 521,640 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Haemonetics during the first quarter valued at $38,706,000. Mizuho Markets Americas LLC bought a new stake in Haemonetics in the 2nd quarter worth about $30,080,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Haemonetics by 75.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after buying an additional 343,214 shares in the last quarter. 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.