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

Haemonetics (NYSE:HAE) had its target price lowered by Needham & Company LLC from $108.00 to $104.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s target price would suggest a potential upside of 60.41% from the stock’s current price.

Several other brokerages have also issued reports on HAE. JMP Securities cut their target price on Haemonetics from $125.00 to $100.00 and set a “market outperform” 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 on the stock in a report on Friday, February 7th. Raymond James restated a “strong-buy” rating and set a $115.00 price target (down from $120.00) on shares of Haemonetics in a research report on Friday, February 7th. Bank of America downgraded Haemonetics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $95.00 to $68.00 in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.22.

Haemonetics Stock Down 1.0 %

HAE stock opened at $64.84 on Tuesday. The company’s 50 day moving average is $68.33 and its 200 day moving average is $75.34. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.11 and a beta of 0.43. 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 1-year low of $58.80 and a 1-year high of $97.97.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. Sell-side analysts predict that Haemonetics will post 4.55 EPS for the current fiscal year.

Institutional Trading of Haemonetics

Several large investors have recently added to or reduced their stakes in HAE. TD Waterhouse Canada Inc. purchased a new stake in shares of Haemonetics in the 4th quarter worth about $25,000. Covestor Ltd raised its stake in Haemonetics by 146.8% in the fourth quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 439 shares in the last quarter. Whittier Trust Co. bought a new position in Haemonetics in the fourth quarter worth about $62,000. Parkside Financial Bank & Trust lifted its holdings in Haemonetics by 25.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after buying an additional 240 shares during the period. Finally, AlphaQuest LLC boosted its position in Haemonetics by 36,520.0% during the 4th quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier’s stock valued at $143,000 after acquiring an additional 1,826 shares in the last quarter. Institutional investors 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.