Raymond James Reaffirms Strong-Buy Rating for Haemonetics (NYSE:HAE)

Haemonetics (NYSE:HAE)‘s stock had its “strong-buy” rating reiterated by analysts at Raymond James in a research report issued on Friday,Benzinga reports. They presently have a $115.00 target price on the medical instruments supplier’s stock, down from their previous target price of $120.00. Raymond James’ target price suggests a potential upside of 89.04% from the company’s current price.

HAE has been the topic of a number of other reports. Needham & Company LLC decreased their target price on shares of Haemonetics from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. Bank of America downgraded shares of Haemonetics from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $95.00 to $68.00 in a report on Friday. JMP Securities cut their price target on shares of Haemonetics from $125.00 to $100.00 and set a “market outperform” rating for the company in a report on Friday. Finally, Barrington Research cut their price target on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.67.

Haemonetics Price Performance

Shares of NYSE:HAE traded down $2.16 during trading on Friday, reaching $60.83. 974,890 shares of the company’s stock traded hands, compared to its average volume of 876,786. Haemonetics has a fifty-two week low of $60.74 and a fifty-two week high of $97.97. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The firm has a market cap of $3.06 billion, a PE ratio of 25.27, a P/E/G ratio of 1.07 and a beta of 0.39. The company has a 50-day simple moving average of $76.94 and a 200-day simple moving average of $78.62.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. As a group, analysts predict that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Haemonetics by 124.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 632 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Haemonetics by 25.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 240 shares during the last quarter. KBC Group NV lifted its position in Haemonetics by 54.6% in the fourth quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after acquiring an additional 712 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in Haemonetics in the third quarter valued at $204,000. Finally, CWC Advisors LLC. purchased a new stake in Haemonetics in the third quarter valued at $231,000. 99.67% of the stock is owned by hedge funds and other 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.