Haemonetics (NYSE:HAE) Downgraded by StockNews.com to Hold

Haemonetics (NYSE:HAE - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Other equities analysts have also issued reports about the company. JMP Securities cut their target price on Haemonetics from $125.00 to $100.00 and set a "market outperform" rating on the stock in a research report on Friday, February 7th. Bank of America lowered Haemonetics from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $95.00 to $68.00 in a report on Friday, February 7th. Barrington Research dropped their price objective on shares of Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Needham & Company LLC lowered their target price on Haemonetics from $112.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, 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 on the stock. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Haemonetics currently has an average rating of "Moderate Buy" and an average target price of $101.67.

Haemonetics Trading Up 0.7 %

NYSE:HAE traded up $0.41 during mid-day trading on Friday, reaching $62.77. The company's stock had a trading volume of 122,626 shares, compared to its average volume of 1,012,009. Haemonetics has a twelve month low of $58.80 and a twelve month high of $97.97. The company's fifty day simple moving average is $73.77 and its two-hundred day simple moving average is $77.03. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.09. The stock has a market cap of $3.15 billion, a P/E ratio of 24.76, 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 return on equity of 23.66% and a net margin of 9.47%. On average, equities analysts predict that Haemonetics will post 4.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vontobel Holding Ltd. grew its stake in shares of Haemonetics by 3.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier's stock valued at $392,000 after buying an additional 180 shares in the last quarter. Cardinal Capital Management increased its stake in shares of Haemonetics by 17.0% during the 3rd quarter. Cardinal Capital Management now owns 17,349 shares of the medical instruments supplier's stock worth $1,395,000 after purchasing an additional 2,517 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Haemonetics by 75.9% during 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 purchasing an additional 343,214 shares in the last quarter. Riverwater Partners LLC lifted its stake in shares of Haemonetics by 185.0% in the 3rd quarter. Riverwater Partners LLC now owns 44,841 shares of the medical instruments supplier's stock valued at $3,556,000 after purchasing an additional 29,109 shares during the last quarter. Finally, Keene & Associates Inc. lifted its stake in shares of Haemonetics by 3.0% in the 3rd quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier's stock valued at $818,000 after purchasing an additional 298 shares during the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

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.