Haemonetics (NYSE:HAE) Receives “Hold” Rating from Needham & Company LLC

Haemonetics (NYSE:HAE)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports.

HAE has been the subject of several other research reports. Barrington Research reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Haemonetics in a report on Friday, April 12th. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, TheStreet cut Haemonetics from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $104.67.

Haemonetics Price Performance

NYSE:HAE opened at $92.59 on Friday. Haemonetics has a one year low of $70.74 and a one year high of $97.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.76 and a current ratio of 2.92. The stock has a market cap of $4.70 billion, a PE ratio of 37.64, a P/E/G ratio of 2.23 and a beta of 0.34. The stock has a 50 day moving average price of $83.98 and a 200 day moving average price of $82.88.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $1.04 EPS for the quarter, beating the consensus estimate of $0.94 by $0.10. Haemonetics had a return on equity of 22.37% and a net margin of 9.97%. The firm had revenue of $336.20 million during the quarter, compared to analysts’ expectations of $320.84 million. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts expect that Haemonetics will post 3.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Haemonetics news, EVP Anila Lingamneni sold 2,305 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 12,295 shares of the company’s stock, valued at $1,168,025. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Carmel Capital Partners LLC purchased a new position in shares of Haemonetics during the third quarter worth $30,000. TFO Wealth Partners LLC boosted its position in shares of Haemonetics by 29,450.0% during the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 589 shares during the period. Group One Trading L.P. purchased a new position in shares of Haemonetics during the third quarter worth $55,000. Parkside Financial Bank & Trust boosted its position in shares of Haemonetics by 17.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock worth $90,000 after buying an additional 156 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Haemonetics during the first quarter worth $114,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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 intravenous 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.