Haemonetics (NYSE:HAE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Haemonetics (NYSE:HAE) from a hold rating to a buy rating in a report issued on Friday morning.

HAE has been the topic of several other reports. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price target (down from $120.00) on shares of Haemonetics in a research report on Friday. JMP Securities dropped their price target on Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research report on Friday. Barrington Research reduced their price objective on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $95.00 to $68.00 in a research note on Friday. Finally, Needham & Company LLC cut 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $101.67.

Haemonetics Stock Performance

Shares of HAE stock opened at $59.34 on Friday. The stock has a fifty day moving average price of $76.94 and a 200 day moving average price of $78.62. 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 stock has a market cap of $2.98 billion, a PE ratio of 24.62, a P/E/G ratio of 1.07 and a beta of 0.39. Haemonetics has a 1 year low of $59.09 and a 1 year high of $97.97.

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 the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. Sell-side analysts forecast that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in Haemonetics by 124.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 632 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Haemonetics by 25.6% during the 4th 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 last quarter. AlphaQuest LLC increased its holdings in shares of Haemonetics by 36,520.0% during the 4th quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 1,826 shares during the last quarter. KBC Group NV raised its position in shares of Haemonetics by 54.6% in the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock worth $157,000 after buying an additional 712 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in Haemonetics in the third quarter valued at $204,000. 99.67% of the stock is owned by institutional investors and hedge funds.

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.