Needham & Company LLC Cuts Haemonetics (NYSE:HAE) Price Target to $104.00

Haemonetics (NYSE:HAE) had its price target cut by equities researchers at Needham & Company LLC from $108.00 to $104.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 59.21% from the company’s current price.

HAE has been the topic of a number of other research reports. Bank of America lowered shares of Haemonetics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $95.00 to $68.00 in a research note on Friday, February 7th. Raymond James restated 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. Barrington Research dropped their price target on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. JPMorgan Chase & Co. started coverage on shares of Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target for the company. Finally, JMP Securities dropped their price target on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and an average target price of $101.22.

Haemonetics Trading Up 1.0 %

HAE opened at $65.32 on Tuesday. The firm has a market capitalization of $3.28 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.11 and a beta of 0.43. The firm’s 50 day moving average is $67.82 and its 200-day moving average is $75.19. Haemonetics has a 52-week low of $58.80 and a 52-week high of $97.97. The company has a quick ratio of 2.55, a current ratio of 3.97 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) 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%. Analysts expect that Haemonetics will post 4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in Haemonetics by 1.2% in the fourth quarter. Arizona State Retirement System now owns 14,853 shares of the medical instruments supplier’s stock worth $1,160,000 after purchasing an additional 181 shares during the period. CWC Advisors LLC. boosted its holdings in Haemonetics by 7.4% in the fourth quarter. CWC Advisors LLC. now owns 3,083 shares of the medical instruments supplier’s stock worth $241,000 after purchasing an additional 212 shares during the period. Vise Technologies Inc. boosted its holdings in Haemonetics by 8.7% in the fourth quarter. Vise Technologies Inc. now owns 2,825 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 225 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Haemonetics by 25.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock worth $92,000 after purchasing an additional 240 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Haemonetics by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 3,353 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.