Barrington Research Cuts Haemonetics (NYSE:HAE) Price Target to $95.00

Haemonetics (NYSE:HAE) had its target price reduced by equities researchers at Barrington Research from $108.00 to $95.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price target would suggest a potential upside of 50.91% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $112.00 target price on shares of Haemonetics in a report on Tuesday, December 3rd. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. began coverage on Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Haemonetics has an average rating of “Moderate Buy” and an average price target of $107.33.

Haemonetics Stock Performance

Shares of HAE stock opened at $62.95 on Friday. The company has a market capitalization of $3.16 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 1.07 and a beta of 0.39. Haemonetics has a 52 week low of $61.43 and a 52 week high of $97.97. The company’s 50 day moving average price is $77.44 and its two-hundred day moving average price is $78.73. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49.

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

Institutional Investors Weigh In On Haemonetics

A number of hedge funds have recently made changes to their positions in HAE. FMR LLC increased its holdings in shares of Haemonetics by 206.3% during the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after buying an additional 521,640 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 purchasing an additional 363,702 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Haemonetics by 75.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock valued at $63,933,000 after purchasing an additional 343,214 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Haemonetics by 29.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock valued at $88,433,000 after buying an additional 250,833 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Haemonetics during the fourth quarter worth about $19,002,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.