Haemonetics (NYSE:HAE) Given New $108.00 Price Target at Needham & Company LLC

Haemonetics (NYSE:HAE) had its target price trimmed by Needham & Company LLC from $112.00 to $108.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Several other analysts have also weighed in on the stock. Barrington Research lowered their price objective on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. initiated coverage on shares of Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target for the company. Bank of America cut shares of Haemonetics from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $95.00 to $68.00 in a research report on Friday. Finally, Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Haemonetics presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Haemonetics Price Performance

Shares of NYSE:HAE opened at $59.34 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.09 and a current ratio of 3.97. Haemonetics has a 52 week low of $59.09 and a 52 week high of $97.97. The firm has a market cap of $2.98 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39. The firm’s fifty day moving average is $76.94 and its 200-day moving average is $78.62.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. Sell-side analysts predict that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning bought a new position in shares of Haemonetics in the second quarter valued at approximately $368,000. Handelsbanken Fonder AB grew its stake in Haemonetics by 23.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,095 shares of the medical instruments supplier’s stock valued at $1,374,000 after purchasing an additional 3,300 shares during the period. West Coast Financial LLC increased its position in shares of Haemonetics by 2.2% during the 3rd quarter. West Coast Financial LLC now owns 47,182 shares of the medical instruments supplier’s stock valued at $3,792,000 after purchasing an additional 1,013 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Haemonetics by 19.7% during the 3rd quarter. Inspire Investing LLC now owns 5,130 shares of the medical instruments supplier’s stock worth $412,000 after purchasing an additional 845 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Haemonetics by 3.8% in the 3rd 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 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.