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

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

HAE has been the subject of a number of other reports. Bank of America assumed coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price target for the company. BTIG Research started coverage on Haemonetics in a research note on Tuesday, September 10th. They set a “buy” rating and a $112.00 target price for the company. Citigroup dropped their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. 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 report on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Haemonetics in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.88.

Haemonetics Price Performance

Shares of HAE opened at $89.22 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The firm has a market capitalization of $4.48 billion, a PE ratio of 37.02, a P/E/G ratio of 1.39 and a beta of 0.32. The stock has a 50 day simple moving average of $77.55 and a 200 day simple moving average of $82.62. Haemonetics has a 52-week low of $70.25 and a 52-week high of $97.97.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. During the same period in the prior year, the firm earned $0.99 earnings per share. Haemonetics’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Haemonetics will post 4.59 EPS for the current fiscal year.

Institutional Trading of Haemonetics

A number of institutional investors have recently bought and sold shares of HAE. Commonwealth Equity Services LLC grew its holdings in shares of Haemonetics by 3.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock worth $304,000 after purchasing an additional 117 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Haemonetics by 3.8% during the third quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock worth $392,000 after buying an additional 180 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Haemonetics by 6.9% in the 2nd quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier’s stock valued at $333,000 after buying an additional 260 shares during the period. Arizona State Retirement System raised its position in shares of Haemonetics by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier’s stock valued at $1,176,000 after buying an additional 272 shares in the last quarter. Finally, Keene & Associates Inc. lifted its holdings in shares of Haemonetics by 3.0% during the 3rd quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock worth $818,000 after acquiring an additional 298 shares during the period. Institutional investors own 99.67% of the company’s stock.

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.