Haemonetics (NYSE:HAE) Price Target Cut to $104.00 by Analysts at Needham & Company LLC

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

A number of other equities analysts have also recently issued reports on HAE. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price target (down previously from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. JMP Securities dropped their target price on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Friday, February 7th. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 price target for the company. Barrington Research lowered 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, February 7th. Finally, Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $95.00 to $68.00 in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.22.

Haemonetics Price Performance

HAE stock opened at $64.84 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97. The firm has a 50 day moving average price of $68.33 and a 200-day moving average price of $75.34. Haemonetics has a 52-week low of $58.80 and a 52-week high of $97.97. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.11 and a beta of 0.43.

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 analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. Equities research analysts forecast that Haemonetics will post 4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Institutional investors and hedge funds have recently modified their holdings of the company. Vise Technologies Inc. increased its position in Haemonetics by 8.7% during the fourth quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier’s stock valued at $221,000 after acquiring an additional 225 shares during the last quarter. Waverly Advisors LLC grew its stake in shares of Haemonetics by 17.0% during the 4th quarter. Waverly Advisors LLC now owns 12,769 shares of the medical instruments supplier’s stock valued at $997,000 after purchasing an additional 1,857 shares during the period. Silvercrest Asset Management Group LLC increased its position in shares of Haemonetics by 31.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 643,227 shares of the medical instruments supplier’s stock valued at $50,223,000 after purchasing an additional 152,042 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Haemonetics by 40.7% in the 4th quarter. ProShare Advisors LLC now owns 16,486 shares of the medical instruments supplier’s stock worth $1,287,000 after purchasing an additional 4,771 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in shares of Haemonetics in the fourth quarter worth approximately $519,000. 99.67% of the stock is currently owned by hedge funds and other 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.