Haemonetics’ (HAE) Buy Rating Reiterated at Needham & Company LLC

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

Several other research analysts also recently commented on HAE. Bank of America started coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Friday, November 8th. Citigroup cut their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Haemonetics in a report on Tuesday, August 13th. Finally, BTIG Research initiated coverage on shares of Haemonetics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Haemonetics presently has a consensus rating of “Moderate Buy” and an average target price of $107.88.

Haemonetics Price Performance

Haemonetics stock opened at $89.22 on Friday. The business has a 50 day simple moving average of $77.55 and a 200 day simple moving average of $82.62. Haemonetics has a one year low of $70.25 and a one year high of $97.97. The company has a market capitalization of $4.48 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 1.39 and a beta of 0.32. 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 (NYSE:HAE) last issued its earnings results 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 company had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. On average, sell-side analysts forecast that Haemonetics will post 4.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in Haemonetics in the second quarter valued at about $39,000. Covestor Ltd increased its stake in shares of Haemonetics by 184.8% in the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 438 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Haemonetics in the 2nd quarter valued at approximately $82,000. Canada Pension Plan Investment Board bought a new position in Haemonetics during the 2nd quarter worth approximately $83,000. Finally, EntryPoint Capital LLC acquired a new position in Haemonetics during the first quarter valued at approximately $86,000. 99.67% of the stock is owned by 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.