Haemonetics (NYSE:HAE) Cut to Hold at StockNews.com

StockNews.com lowered shares of Haemonetics (NYSE:HAE) from a buy rating to a hold rating in a research note released on Saturday.

Several other equities research analysts have also recently weighed in on the stock. JMP Securities reduced their target price on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research note on Friday, February 7th. Needham & Company LLC reduced their target price on shares of Haemonetics from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Barrington Research reduced their target price on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company 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 issued an “overweight” rating and a $116.00 target price for the company. Finally, Raymond James reiterated a “strong-buy” rating and issued a $115.00 target price (down previously from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Haemonetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Haemonetics Trading Up 0.3 %

Shares of NYSE:HAE opened at $62.47 on Friday. The stock has a market capitalization of $3.14 billion, a PE ratio of 24.59, a P/E/G ratio of 0.98 and a beta of 0.39. Haemonetics has a 1 year low of $58.80 and a 1 year high of $97.97. The firm has a fifty day moving average price of $74.18 and a 200 day moving average price of $77.22. The company has a current ratio of 3.97, a quick ratio of 2.09 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last released its quarterly earnings results 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%. Analysts expect that Haemonetics will post 4.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Waverly Advisors LLC increased its holdings in shares of Haemonetics by 17.0% during the fourth quarter. Waverly Advisors LLC now owns 12,769 shares of the medical instruments supplier’s stock worth $997,000 after buying an additional 1,857 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Haemonetics by 31.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 643,227 shares of the medical instruments supplier’s stock worth $50,223,000 after buying an additional 152,042 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Haemonetics by 40.7% during the fourth quarter. ProShare Advisors LLC now owns 16,486 shares of the medical instruments supplier’s stock worth $1,287,000 after buying an additional 4,771 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Haemonetics during the fourth quarter worth approximately $519,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Haemonetics by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,570 shares of the medical instruments supplier’s stock worth $2,231,000 after buying an additional 1,084 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

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.