Haemonetics (NYSE:HAE) Earns “Buy” Rating from Needham & Company LLC

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

A number of other equities research analysts have also recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Bank of America assumed coverage on shares of Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. BTIG Research initiated coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target for the company. Barrington Research reiterated an “outperform” rating and issued a $108.00 price objective on shares of Haemonetics in a research note on Friday, November 8th. Finally, CL King began coverage on Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Three investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of $107.88.

Haemonetics Stock Down 1.7 %

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

Haemonetics (NYSE:HAE) last posted its quarterly earnings data 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 firm had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Sell-side analysts anticipate that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

A number of hedge funds and other institutional investors have recently bought and sold shares of HAE. Commonwealth Equity Services LLC raised its position in shares of Haemonetics by 3.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after buying an additional 117 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Haemonetics by 3.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock worth $392,000 after purchasing an additional 180 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Haemonetics by 6.9% during the 2nd quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock valued at $333,000 after purchasing an additional 260 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Haemonetics by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier’s stock valued at $1,176,000 after buying an additional 272 shares in the last quarter. Finally, Keene & Associates Inc. lifted its position in Haemonetics by 3.0% in the 3rd quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock worth $818,000 after buying an additional 298 shares during 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.