Haemonetics (NYSE:HAE) Upgraded to “Buy” at StockNews.com

Haemonetics (NYSE:HAE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages have also recently issued reports on HAE. Bank of America cut shares of 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 note on Friday. JPMorgan Chase & Co. assumed coverage on shares of Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 price objective on the stock. Barrington Research lowered their price objective on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday. Needham & Company LLC lowered their price objective on shares of Haemonetics from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday. Finally, JMP Securities lowered their price objective on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.67.

Haemonetics Price Performance

Shares of HAE stock traded down $3.66 during midday trading on Friday, reaching $59.34. 2,702,592 shares of the company were exchanged, compared to its average volume of 946,952. Haemonetics has a 12 month low of $59.09 and a 12 month high of $97.97. The company has a market cap of $2.98 billion, a P/E ratio of 24.62, a PEG ratio of 1.07 and a beta of 0.39. The company’s 50 day moving average price is $76.94 and its two-hundred day moving average price is $78.62. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. On average, sell-side analysts expect that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Trading of Haemonetics

A number of institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its stake in Haemonetics by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 3,353 shares of the medical instruments supplier’s stock valued at $262,000 after acquiring an additional 244 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in Haemonetics in the fourth quarter valued at approximately $7,849,000. Isthmus Partners LLC lifted its stake in Haemonetics by 1.1% in the fourth quarter. Isthmus Partners LLC now owns 40,220 shares of the medical instruments supplier’s stock valued at $3,140,000 after acquiring an additional 450 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Haemonetics by 10.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,460 shares of the medical instruments supplier’s stock worth $973,000 after buying an additional 1,202 shares during the last quarter. Finally, TradeLink Capital LLC bought a new stake in shares of Haemonetics during the 4th quarter worth $902,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.