Haemonetics’ (HAE) “Buy” Rating Reiterated at Needham & Company LLC

Haemonetics (NYSE:HAE)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $112.00 target price on the medical instruments supplier’s stock. Needham & Company LLC’s price objective points to a potential upside of 31.26% from the company’s previous close.

A number of other research analysts have also commented on the company. Bank of America assumed coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price for the company. Barrington Research reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a research report on Friday, November 8th. BTIG Research began coverage on Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th. Finally, CL King assumed coverage on Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 price objective for the company. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.88.

Haemonetics Price Performance

NYSE:HAE traded down $2.15 during mid-day trading on Tuesday, reaching $85.33. The stock had a trading volume of 79,289 shares, compared to its average volume of 552,627. The stock has a market capitalization of $4.29 billion, a P/E ratio of 35.41, a P/E/G ratio of 1.36 and a beta of 0.38. The firm has a 50 day moving average price of $80.21 and a two-hundred day moving average price of $82.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. Haemonetics has a one year low of $70.25 and a one year high of $97.97.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating 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 business posted $0.99 EPS. Haemonetics’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in Haemonetics during the 2nd quarter valued at about $39,000. Daiwa Securities Group Inc. purchased a new position in shares of Haemonetics during the second quarter valued at approximately $82,000. Canada Pension Plan Investment Board bought a new position in Haemonetics during the second quarter valued at approximately $83,000. Nisa Investment Advisors LLC boosted its holdings in Haemonetics by 124.2% in 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. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Haemonetics in the second quarter worth approximately $140,000. 99.67% of the stock is owned by institutional investors.

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.