Haemonetics (NYSE:HAE) Stock Rating Upgraded by Needham & Company LLC

Haemonetics (NYSE:HAEGet Free Report) was upgraded by stock analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has a $112.00 target price on the medical instruments supplier’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 30.20% from the company’s previous close.

HAE has been the topic of several other reports. JMP Securities lifted their price objective on Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Friday, May 10th. Barrington Research increased their price objective on shares of Haemonetics from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. StockNews.com lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, TheStreet lowered shares of Haemonetics from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.50.

Check Out Our Latest Stock Analysis on Haemonetics

Haemonetics Trading Up 0.1 %

HAE opened at $86.02 on Wednesday. The firm has a market capitalization of $4.38 billion, a P/E ratio of 37.56, a P/E/G ratio of 1.57 and a beta of 0.37. The firm’s 50 day moving average is $88.97 and its 200-day moving average is $83.56. The company has a quick ratio of 1.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.83. Haemonetics has a 52-week low of $70.74 and a 52-week high of $97.97.

Haemonetics (NYSE:HAEGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $329.53 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. Analysts expect that Haemonetics will post 4.55 EPS for the current fiscal year.

Insider Buying and Selling at Haemonetics

In other news, insider Stewart W. Strong sold 8,857 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $87.53, for a total value of $775,253.21. Following the transaction, the insider now directly owns 18,196 shares in the company, valued at approximately $1,592,695.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Anila Lingamneni sold 2,305 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $95.00, for a total transaction of $218,975.00. Following the completion of the transaction, the executive vice president now owns 12,295 shares in the company, valued at approximately $1,168,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stewart W. Strong sold 8,857 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total value of $775,253.21. Following the completion of the sale, the insider now directly owns 18,196 shares in the company, valued at $1,592,695.88. The disclosure for this sale can be found here. Insiders sold a total of 27,380 shares of company stock worth $2,445,816 over the last 90 days. Insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Haemonetics

Hedge funds and other institutional investors have recently modified their holdings of the company. TFO Wealth Partners LLC lifted its position in Haemonetics by 29,450.0% in the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 589 shares during the last quarter. Group One Trading L.P. bought a new stake in shares of Haemonetics during the third quarter valued at approximately $55,000. Covestor Ltd boosted its position in shares of Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 438 shares during the period. EntryPoint Capital LLC bought a new position in Haemonetics in the 1st quarter worth approximately $86,000. Finally, Parkside Financial Bank & Trust increased its position in Haemonetics by 17.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock valued at $90,000 after acquiring an additional 156 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Haemonetics

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Haemonetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haemonetics and related companies with MarketBeat.com's FREE daily email newsletter.