Needham & Company LLC Cuts Haemonetics (NYSE:HAE) Price Target to $108.00

Haemonetics (NYSE:HAE) had its target price trimmed by Needham & Company LLC from $112.00 to $108.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other research firms have also weighed in on HAE. JPMorgan Chase & Co. started coverage on shares of Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 target price on the stock. Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $95.00 to $68.00 in a research report on Friday. Barrington Research cut their price objective on Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a report on Friday. Finally, Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.67.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $59.34 on Friday. The company has a 50-day moving average price of $76.94 and a two-hundred day moving average price of $78.62. Haemonetics has a twelve month low of $59.09 and a twelve month high of $97.97. The company has a quick ratio of 2.09, a current ratio of 3.97 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $2.98 billion, a PE ratio of 23.36, a P/E/G ratio of 0.98 and a beta of 0.39.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data 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 return on equity of 23.66% and a net margin of 9.47%. Equities analysts forecast that Haemonetics will post 4.59 EPS for the current year.

Institutional Trading of Haemonetics

Several hedge funds and other institutional investors have recently bought and sold shares of HAE. Nisa Investment Advisors LLC increased its stake in shares of Haemonetics by 124.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after buying an additional 632 shares during the period. Parkside Financial Bank & Trust grew its holdings in Haemonetics by 25.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after acquiring an additional 240 shares during the last quarter. AlphaQuest LLC increased its position in shares of Haemonetics by 36,520.0% in the fourth quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier’s stock valued at $143,000 after acquiring an additional 1,826 shares during the period. KBC Group NV raised its stake in shares of Haemonetics by 54.6% during the fourth quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after acquiring an additional 712 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Haemonetics during the third quarter worth about $204,000. 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.