Haemonetics (NYSE:HAE) Price Target Cut to $100.00 by Analysts at JMP Securities

Haemonetics (NYSE:HAE - Free Report) had its target price cut by JMP Securities from $125.00 to $100.00 in a report released on Friday morning,Benzinga reports. They currently have a market outperform rating on the medical instruments supplier's stock.

Several other equities research analysts also recently issued reports on the company. Barrington Research dropped their target price on Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday. Bank of America downgraded Haemonetics from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $95.00 to $68.00 in a research report on Friday. Needham & Company LLC lowered their price objective on Haemonetics from $112.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday. JPMorgan Chase & Co. assumed coverage on Haemonetics in a research report on Friday, December 6th. They issued an "overweight" rating and a $116.00 price objective on the stock. Finally, Raymond James upgraded Haemonetics from an "outperform" rating to a "strong-buy" rating and set a $120.00 price objective on the stock in a research report on Friday, November 8th. 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 issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.67.

Haemonetics Stock Up 2.4 %

HAE traded up $1.46 during midday trading on Friday, reaching $62.10. 949,354 shares of the company were exchanged, compared to its average volume of 995,138. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.09 and a current ratio of 3.97. The company's fifty day moving average price is $75.84 and its 200 day moving average price is $78.01. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39. Haemonetics has a one year low of $58.80 and a one year high of $97.97.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. As a group, analysts expect that Haemonetics will post 4.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Haemonetics by 9.5% during the third 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 last quarter. Thrivent Financial for Lutherans grew its stake in shares of Haemonetics by 14.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier's stock valued at $98,716,000 after buying an additional 164,111 shares during the last quarter. Royce & Associates LP grew its stake in shares of Haemonetics by 2.6% during the third quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier's stock valued at $97,304,000 after buying an additional 30,868 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Haemonetics by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier's stock valued at $95,986,000 after buying an additional 21,547 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of Haemonetics by 13.1% during the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock valued at $71,500,000 after buying an additional 106,114 shares during the last quarter. 99.67% of the stock is owned by 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.