Haemonetics (NYSE:HAE) Downgraded by Bank of America to Underperform

Haemonetics (NYSE:HAE) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. They currently have a $68.00 price objective on the medical instruments supplier’s stock, down from their prior price objective of $95.00. Bank of America‘s target price points to a potential upside of 8.02% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. 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. Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $112.00 price objective on shares of Haemonetics in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research note on Friday, December 6th. They set an “overweight” rating and a $116.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.44.

Haemonetics Stock Performance

Shares of HAE stock opened at $62.95 on Friday. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.07 and a beta of 0.39. 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 firm’s 50-day simple moving average is $77.44 and its two-hundred day simple moving average is $78.73. Haemonetics has a 52 week low of $61.43 and a 52 week high of $97.97.

Haemonetics (NYSE:HAE) last posted its earnings results 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 return on equity of 22.67% and a net margin of 9.10%. As a group, equities analysts forecast that Haemonetics will post 4.59 earnings per share for the current year.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds and other institutional investors have recently bought and sold shares of HAE. FMR LLC grew its stake in Haemonetics by 206.3% in the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after buying an additional 521,640 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock worth $337,722,000 after acquiring an additional 363,702 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Haemonetics by 75.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after acquiring an additional 343,214 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Haemonetics by 29.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock worth $88,433,000 after acquiring an additional 250,833 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Haemonetics in the 4th quarter worth approximately $19,002,000. Hedge funds and other institutional investors 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.