Haemonetics (NYSE:HAE) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Haemonetics (NYSE:HAE) in a research note released on Friday morning, AnalystRatings.com reports. The firm issued a buy rating and a $132.00 target price on the medical instruments supplier’s stock.

HAE has been the subject of several other research reports. Morgan Stanley cut their target price on Haemonetics from $148.00 to $138.00 and set an overweight rating for the company in a research note on Friday, March 27th. Raymond James cut their target price on Haemonetics from $130.00 to $125.00 and set an outperform rating for the company in a research note on Wednesday, May 6th. CJS Securities raised Haemonetics from a market perform rating to an outperform rating in a research note on Tuesday, March 31st. Barrington Research lowered Haemonetics from an outperform rating to a market perform rating in a research note on Wednesday, May 6th. Finally, ValuEngine raised Haemonetics from a sell rating to a hold rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $136.83.

Shares of HAE opened at $109.88 on Friday. Haemonetics has a twelve month low of $63.41 and a twelve month high of $140.36. The company has a quick ratio of 1.21, a current ratio of 2.20 and a debt-to-equity ratio of 0.52. The stock has a market cap of $5.52 billion, a PE ratio of 74.75, a P/E/G ratio of 2.98 and a beta of 0.71. The business’s 50-day moving average price is $107.02 and its 200-day moving average price is $110.26.

Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, May 5th. The medical instruments supplier reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.04). The firm had revenue of $238.50 million during the quarter, compared to analysts’ expectations of $246.53 million. Haemonetics had a return on equity of 29.33% and a net margin of 7.74%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Analysts expect that Haemonetics will post 3.06 earnings per share for the current fiscal year.

In related news, Director Mark W. Kroll sold 10,902 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $102.00, for a total transaction of $1,112,004.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dan Goldstein sold 2,607 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $101.62, for a total value of $264,923.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,871 shares of company stock valued at $1,712,237. Insiders own 1.32% of the company’s stock.

Several institutional investors have recently made changes to their positions in HAE. State of Michigan Retirement System raised its holdings in Haemonetics by 1.4% in the fourth quarter. State of Michigan Retirement System now owns 14,900 shares of the medical instruments supplier’s stock worth $1,712,000 after purchasing an additional 200 shares in the last quarter. Eqis Capital Management Inc. bought a new position in Haemonetics in the fourth quarter worth $248,000. Virginia Retirement Systems ET AL raised its holdings in Haemonetics by 2.1% in the fourth quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the medical instruments supplier’s stock worth $1,126,000 after purchasing an additional 200 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in Haemonetics by 53.8% in the fourth quarter. Chartwell Investment Partners LLC now owns 47,965 shares of the medical instruments supplier’s stock worth $5,511,000 after purchasing an additional 16,776 shares in the last quarter. Finally, Emerald Advisers LLC raised its holdings in Haemonetics by 22.0% in the fourth quarter. Emerald Advisers LLC now owns 248,520 shares of the medical instruments supplier’s stock worth $28,555,000 after purchasing an additional 44,880 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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Analyst Recommendations for Haemonetics (NYSE:HAE)

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