Needham & Company LLC Lowers Haemonetics (NYSE:HAE) Price Target to $104.00

Haemonetics (NYSE:HAE) had its price objective lowered by Needham & Company LLC from $108.00 to $104.00 in a research report released on Tuesday, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier’s stock.

Other research analysts have also issued reports about the stock. Raymond James reaffirmed a “strong-buy” rating and set a $115.00 price objective (down from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. JPMorgan Chase & Co. assumed coverage on shares of Haemonetics in a research note on Friday, December 6th. They set an “overweight” rating and a $116.00 price target for the company. Barrington Research cut their price target on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Bank of America downgraded shares of Haemonetics from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $68.00 in a research note on Friday, February 7th. Finally, StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.22.

Haemonetics Stock Down 1.5 %

Shares of NYSE HAE opened at $64.28 on Tuesday. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. Haemonetics has a 12-month low of $58.80 and a 12-month high of $97.97. The firm’s 50-day moving average price is $67.54 and its 200-day moving average price is $75.11. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.11 and a beta of 0.43.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. On average, equities research analysts anticipate that Haemonetics will post 4.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after purchasing an additional 363,702 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Haemonetics by 14.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier’s stock valued at $98,716,000 after buying an additional 164,111 shares during the period. Geode Capital Management LLC raised its stake in Haemonetics by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock worth $95,986,000 after buying an additional 21,547 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Haemonetics by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier’s stock worth $77,470,000 after buying an additional 10,990 shares during the period. Finally, Boston Trust Walden Corp boosted its position in Haemonetics by 13.1% during the 4th quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier’s stock valued at $71,500,000 after acquiring an additional 106,114 shares in the last quarter. 99.67% of the stock is currently 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.