Haemonetics (NYSE:HAE) Given New $108.00 Price Target at Needham & Company LLC

Haemonetics (NYSE:HAE) had its price target reduced by Needham & Company LLC from $112.00 to $108.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other brokerages also recently commented on HAE. Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $95.00 to $68.00 in a report on Friday. Raymond James upgraded shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a report on Friday, November 8th. Barrington Research cut their target price on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, 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 target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Haemonetics currently has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Haemonetics Trading Down 5.8 %

Shares of HAE opened at $59.34 on Friday. The firm has a fifty day simple moving average of $76.38 and a two-hundred day simple moving average of $78.32. Haemonetics has a twelve month low of $59.09 and a twelve month high of $97.97. The stock has a market capitalization of $2.98 billion, a P/E ratio of 23.36, a PEG ratio of 0.98 and a beta of 0.39. The company has a quick ratio of 2.09, a current ratio of 3.97 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. On average, research analysts anticipate that Haemonetics will post 4.59 EPS for the current year.

Institutional Investors Weigh In On Haemonetics

A number of hedge funds and other institutional investors have recently bought and sold shares of HAE. Creative Planning bought a new stake in shares of Haemonetics during the second quarter valued at approximately $368,000. Handelsbanken Fonder AB raised its holdings in Haemonetics by 23.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,095 shares of the medical instruments supplier’s stock worth $1,374,000 after purchasing an additional 3,300 shares during the period. West Coast Financial LLC increased its holdings in Haemonetics by 2.2% in the 3rd quarter. West Coast Financial LLC now owns 47,182 shares of the medical instruments supplier’s stock worth $3,792,000 after acquiring an additional 1,013 shares in the last quarter. Inspire Investing LLC boosted its holdings in Haemonetics by 19.7% in the 3rd quarter. Inspire Investing LLC now owns 5,130 shares of the medical instruments supplier’s stock worth $412,000 after buying an additional 845 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in 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. Hedge funds and other 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.