Haemonetics (NYSE:HAE) Given New $108.00 Price Target at Needham & Company LLC

Haemonetics (NYSE:HAE - Free Report) had its price objective lowered by Needham & Company LLC from $112.00 to $108.00 in a research note published on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier's stock.

Other analysts also recently issued research reports about the stock. Bank of America downgraded shares of Haemonetics from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $95.00 to $68.00 in a research report on Friday. Raymond James raised shares of Haemonetics from an "outperform" rating to a "strong-buy" rating and set a $120.00 price target for the company in a research report on Friday, November 8th. Barrington Research dropped their price objective on Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. started coverage on Haemonetics in a report on Friday, December 6th. They issued an "overweight" rating and a $116.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Haemonetics currently has a consensus rating of "Moderate Buy" and an average price target of $101.67.

Haemonetics Stock Up 1.5 %

Shares of HAE traded up $0.89 during midday trading on Friday, hitting $61.53. The company had a trading volume of 915,630 shares, compared to its average volume of 992,957. Haemonetics has a 1 year low of $58.80 and a 1 year high of $97.97. The firm has a market capitalization 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. 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 50-day simple moving average is $75.84 and its 200-day simple moving average is $78.01.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly 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%. As a group, sell-side analysts expect that Haemonetics will post 4.59 EPS for the current year.

Institutional Investors Weigh In On Haemonetics

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in 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 worth $337,722,000 after buying an additional 363,702 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Haemonetics by 14.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier's stock worth $98,716,000 after acquiring an additional 164,111 shares in the last quarter. Royce & Associates LP increased its stake in Haemonetics by 2.6% in the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier's stock valued at $97,304,000 after purchasing an additional 30,868 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 worth $95,986,000 after purchasing an additional 21,547 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its position in Haemonetics by 13.1% during the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock worth $71,500,000 after purchasing an additional 106,114 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

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.