Needham & Company LLC Cuts Haemonetics (NYSE:HAE) Price Target to $104.00

Haemonetics (NYSE:HAE) had its price objective reduced by Needham & Company LLC from $108.00 to $104.00 in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities analysts also recently issued reports on HAE. JMP Securities dropped their price target on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday, February 7th. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 price objective for the company. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Barrington Research lowered 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, February 7th. Finally, Bank of America cut Haemonetics from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $95.00 to $68.00 in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.22.

Haemonetics Trading Down 1.5 %

Haemonetics stock opened at $64.28 on Tuesday. Haemonetics has a one year low of $58.80 and a one year high of $97.97. The business’s fifty day moving average is $67.54 and its 200 day moving average is $75.11. The stock has a market capitalization of $3.23 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.11 and a beta of 0.43. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. On average, sell-side analysts predict that Haemonetics will post 4.55 EPS for the current year.

Institutional Investors Weigh In On Haemonetics

Several institutional investors and hedge funds have recently modified their holdings of HAE. Victory Capital Management Inc. grew its stake in Haemonetics by 0.6% during the third quarter. Victory Capital Management Inc. now owns 278,886 shares of the medical instruments supplier’s stock valued at $22,417,000 after acquiring an additional 1,717 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Haemonetics by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 62,621 shares of the medical instruments supplier’s stock valued at $5,033,000 after purchasing an additional 407 shares in the last quarter. Global Alpha Capital Management Ltd. bought a new stake in shares of Haemonetics in the third quarter worth about $806,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Haemonetics by 439.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 220,453 shares of the medical instruments supplier’s stock worth $17,720,000 after buying an additional 179,621 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Haemonetics by 62.9% in the third quarter. Intech Investment Management LLC now owns 22,329 shares of the medical instruments supplier’s stock worth $1,795,000 after buying an additional 8,626 shares in the last quarter. 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.