Needham & Company LLC Cuts Haemonetics (NYSE:HAE) Price Target to $84.00

Haemonetics (NYSE:HAE) had its price objective trimmed by Needham & Company LLC from $104.00 to $84.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also issued reports on HAE. Bank of America lowered shares of Haemonetics from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $95.00 to $68.00 in a report on Friday, February 7th. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price target (down from $120.00) on shares of Haemonetics in a report on Friday, February 7th. StockNews.com upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. JMP Securities cut their price objective on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research report on Friday, February 7th. Finally, Barrington Research decreased their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average target price of $97.89.

Haemonetics Stock Up 0.3 %

Shares of HAE stock opened at $68.21 on Thursday. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.11 and a beta of 0.32. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55. The company’s fifty day moving average price is $62.75 and its 200-day moving average price is $71.39. Haemonetics has a one year low of $55.30 and a one year high of $97.97.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, beating the consensus estimate of $1.22 by $0.02. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The business had revenue of $330.60 million for the quarter, compared to the consensus estimate of $329.38 million. During the same period in the previous year, the business earned $0.90 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. Sell-side analysts expect that Haemonetics will post 4.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Several institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its position in shares of Haemonetics by 14.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier’s stock valued at $98,716,000 after purchasing an additional 164,111 shares during the last quarter. Royce & Associates LP boosted its stake in Haemonetics by 0.7% during the first quarter. Royce & Associates LP now owns 1,161,296 shares of the medical instruments supplier’s stock worth $73,800,000 after buying an additional 8,028 shares during the period. Boston Trust Walden Corp increased its position in Haemonetics by 22.1% during the first quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier’s stock valued at $71,070,000 after acquiring an additional 202,609 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Haemonetics by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier’s stock valued at $77,470,000 after acquiring an additional 10,990 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Haemonetics by 20.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 966,167 shares of the medical instruments supplier’s stock worth $60,888,000 after acquiring an additional 165,118 shares during the last quarter. 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.