Haemonetics (NYSE:HAE) Lowered to "Underperform" Rating by Bank of America

Haemonetics (NYSE:HAE - Get Free Report) was downgraded by analysts at Bank of America from a "neutral" rating to an "underperform" rating in a research note issued to investors on Friday, MarketBeat 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 price objective would suggest a potential upside of 10.52% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a "buy" rating and set a $112.00 price target on shares of Haemonetics in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. assumed coverage on shares of Haemonetics in a research note on Friday, December 6th. They set an "overweight" rating and a $116.00 price target on the stock. Raymond James upgraded 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 report on Friday, November 8th. Finally, Barrington Research decreased 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Haemonetics presently has an average rating of "Moderate Buy" and a consensus target price of $101.67.

Haemonetics Price Performance

HAE stock traded up $0.89 during trading on Friday, hitting $61.53. The company had a trading volume of 915,630 shares, compared to its average volume of 992,957. The company has a current ratio of 3.97, a quick ratio of 2.09 and a debt-to-equity ratio of 1.35. The company has a fifty day moving average price of $75.84 and a two-hundred day moving average price of $78.01. Haemonetics has a fifty-two week low of $58.80 and a fifty-two week high of $97.97. The company has a market cap of $3.09 billion, a P/E ratio of 24.23, a P/E/G ratio of 0.98 and a beta of 0.39.

Haemonetics (NYSE:HAE - Get Free Report) last posted its earnings results 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%. Equities research analysts expect that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Haemonetics by 206.3% during the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier's stock valued at $62,257,000 after purchasing an additional 521,640 shares during the period. Wellington Management Group LLP grew 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 valued at $337,722,000 after buying an additional 363,702 shares during the period. Allspring Global Investments Holdings LLC increased its position 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 valued at $63,933,000 after buying an additional 343,214 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Haemonetics by 29.5% during 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 buying an additional 250,833 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Haemonetics during the fourth quarter worth about $19,002,000. 99.67% of the stock is owned by institutional investors.

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.