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

Needham & Company LLC upgraded shares of Haemonetics (NYSE:HAE) from a hold rating to a buy rating in a research report released on Wednesday morning, MarketBeat reports. The firm currently has $112.00 target price on the medical instruments supplier’s stock.

Several other research firms have also recently commented on HAE. JMP Securities boosted their target price on Haemonetics from $115.00 to $125.00 and gave the stock a market outperform rating in a research note on Friday, May 10th. Barrington Research raised their price target on Haemonetics from $105.00 to $107.00 and gave the stock an outperform rating in a research note on Friday, May 10th. StockNews.com cut Haemonetics from a buy rating to a hold rating in a research note on Friday, March 22nd. Finally, TheStreet downgraded Haemonetics from a b- rating to a c+ rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $109.50.

Haemonetics Trading Down 1.6 %

HAE stock opened at $84.66 on Wednesday. Haemonetics has a 52-week low of $70.74 and a 52-week high of $97.97. The firm has a market cap of $4.31 billion, a P/E ratio of 36.97, a PEG ratio of 1.57 and a beta of 0.37. The company has a quick ratio of 1.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.83. The company’s 50-day simple moving average is $88.98 and its 200-day simple moving average is $83.59.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $329.53 million. During the same quarter in the prior year, the firm earned $0.77 EPS. Haemonetics’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Haemonetics will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling at Haemonetics

In related news, EVP Anila Lingamneni sold 2,305 shares of Haemonetics 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 directly owns 12,295 shares in the company, valued at approximately $1,168,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Haemonetics news, EVP Anila Lingamneni sold 2,305 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $95.00, for a total transaction of $218,975.00. Following the sale, the executive vice president now directly owns 12,295 shares of the company’s stock, valued at approximately $1,168,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Josep Llorens sold 822 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $94.82, for a total transaction of $77,942.04. Following the transaction, the executive vice president now directly owns 16,350 shares in the company, valued at approximately $1,550,307. The disclosure for this sale can be found here. Insiders have sold 27,380 shares of company stock valued at $2,445,816 over the last quarter. Corporate insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HAE. Parkside Financial Bank & Trust raised its position in shares of Haemonetics by 17.4% in the 4th 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. Riverwater Partners LLC increased its holdings in Haemonetics by 1.5% in the 4th quarter. Riverwater Partners LLC now owns 15,784 shares of the medical instruments supplier’s stock valued at $1,350,000 after purchasing an additional 231 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Haemonetics by 7.4% during the fourth quarter. Contravisory Investment Management Inc. now owns 3,507 shares of the medical instruments supplier’s stock worth $300,000 after purchasing an additional 242 shares in the last quarter. LVZ Inc. boosted its position in shares of Haemonetics by 9.4% in the fourth quarter. LVZ Inc. now owns 3,006 shares of the medical instruments supplier’s stock worth $257,000 after buying an additional 259 shares during the period. Finally, Keene & Associates Inc. raised its stake in shares of Haemonetics by 3.1% during the fourth quarter. Keene & Associates Inc. now owns 8,780 shares of the medical instruments supplier’s stock valued at $751,000 after purchasing an additional 268 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

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 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.