Haemonetics (NYSE:HAE) Stock Rating Lowered by Bank of America

Haemonetics (NYSE:HAE) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Friday,Briefing.com Automated Import reports. They currently have a $68.00 target price on the medical instruments supplier’s stock, down from their previous target price of $95.00. Bank of America‘s price objective suggests a potential upside of 8.02% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Haemonetics in a research report on Friday, December 6th. They set an “overweight” rating and a $116.00 price objective on the stock. Barrington Research reduced their price objective on shares of Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday. Raymond James raised shares of Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $112.00 price objective on shares of Haemonetics in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.44.

Haemonetics Trading Down 11.6 %

NYSE:HAE opened at $62.95 on Friday. The company has a fifty day moving average of $77.44 and a 200 day moving average of $78.73. Haemonetics has a 52 week low of $61.43 and a 52 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 capitalization of $3.16 billion, a P/E ratio of 26.12, a P/E/G ratio of 1.07 and a beta of 0.39.

Haemonetics (NYSE:HAE) last posted its quarterly 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%. On average, research analysts predict that Haemonetics will post 4.59 earnings per share for the current year.

Institutional Trading of Haemonetics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Global Alpha Capital Management Ltd. grew its position in shares of Haemonetics by 70.6% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 17,101 shares of the medical instruments supplier’s stock worth $1,335,000 after buying an additional 7,076 shares during the period. AMG National Trust Bank purchased a new stake in Haemonetics during the 4th quarter valued at about $746,000. Ashton Thomas Private Wealth LLC purchased a new stake in Haemonetics during the 4th quarter valued at about $284,000. Raymond James Financial Inc. purchased a new stake in Haemonetics during the 4th quarter valued at about $19,002,000. Finally, Arizona State Retirement System grew its position in Haemonetics by 1.2% during the 4th quarter. Arizona State Retirement System now owns 14,853 shares of the medical instruments supplier’s stock valued at $1,160,000 after purchasing an additional 181 shares during the last quarter. 99.67% of the stock is 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 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.