Needham & Company LLC Reiterates Buy Rating for Haemonetics (NYSE:HAE)

Needham & Company LLC reissued their buy rating on shares of Haemonetics (NYSE:HAE) in a research note published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $112.00 price objective on the medical instruments supplier’s stock.

A number of other research analysts have also weighed in on the stock. Citigroup cut their target price on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. CL King began coverage on shares of Haemonetics in a research note on Friday, September 13th. They set a “buy” rating and a $116.00 price objective for the company. BTIG Research began coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They set a “buy” rating and a $112.00 price objective for the company. Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research note on Friday, November 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a research note on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.88.

Haemonetics Trading Down 1.2 %

Shares of HAE opened at $88.15 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. Haemonetics has a 1 year low of $70.25 and a 1 year high of $97.97. The company has a 50 day simple moving average of $77.85 and a two-hundred day simple moving average of $82.59. The firm has a market cap of $4.43 billion, a P/E ratio of 36.58, a price-to-earnings-growth ratio of 1.39 and a beta of 0.32.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. During the same period last year, the firm posted $0.99 EPS. The company’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

A number of hedge funds have recently added to or reduced their stakes in HAE. Thrivent Financial for Lutherans lifted its stake in Haemonetics by 6,573.6% in the second quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock worth $70,267,000 after acquiring an additional 836,623 shares during the period. FMR LLC raised its holdings in Haemonetics by 206.3% in the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after purchasing an additional 521,640 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in Haemonetics in the first quarter worth about $38,706,000. Wellington Management Group LLP raised its holdings in Haemonetics by 9.5% in the third quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock worth $337,722,000 after purchasing an additional 363,702 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in Haemonetics in the second quarter worth about $30,080,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.