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

Needham & Company LLC restated their buy rating on shares of Haemonetics (NYSE:HAE) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $112.00 target price on the medical instruments supplier’s stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup cut their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. BTIG Research began coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price target on the stock. Bank of America began coverage on shares of Haemonetics in a research report on Wednesday, September 11th. They set a “neutral” rating and a $85.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th. Finally, Barrington Research reissued an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. 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

Shares of NYSE HAE opened at $80.66 on Tuesday. The firm has a market cap of $4.05 billion, a PE ratio of 33.47, a PEG ratio of 1.32 and a beta of 0.38. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. Haemonetics has a 1-year low of $70.25 and a 1-year high of $97.97. The company has a fifty day moving average price of $80.65 and a 200 day moving average price of $81.93.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The firm had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. Research analysts predict that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in Haemonetics in the 2nd quarter valued at about $39,000. Daiwa Securities Group Inc. acquired a new position in Haemonetics in the 2nd quarter valued at about $82,000. Canada Pension Plan Investment Board acquired a new position in Haemonetics in the 2nd quarter valued at about $83,000. Nisa Investment Advisors LLC grew its stake in Haemonetics by 124.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after buying an additional 632 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Haemonetics in the 2nd quarter valued at about $140,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.