Haemonetics (NYSE:HAE) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Haemonetics (NYSE:HAE) from a strong-buy rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently weighed in on HAE. Mizuho set a $165.00 price objective on Haemonetics in a research report on Thursday. BTIG Research upped their target price on Haemonetics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Raymond James Financial increased their price target on Haemonetics from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Robert W. Baird raised their price target on Haemonetics from $96.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Finally, Citigroup boosted their price target on Haemonetics from $123.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Haemonetics presently has an average rating of “Moderate Buy” and a consensus price target of $126.38.

Haemonetics Trading Down 1.5%

NYSE HAE opened at $118.12 on Friday. The company has a quick ratio of 1.91, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $5.37 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.55 and a beta of 0.63. The company has a 50 day moving average price of $111.77 and a 200 day moving average price of $80.29. Haemonetics has a 52 week low of $51.00 and a 52 week high of $132.00.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, November 5th. The medical instruments supplier reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.06. The company had revenue of $357.76 million during the quarter, compared to analysts’ expectations of $345.15 million. Haemonetics had a net margin of 7.12% and a return on equity of 27.55%. Haemonetics’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, sell-side analysts forecast that Haemonetics will post 5.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Several hedge funds have recently made changes to their positions in HAE. Dimensional Fund Advisors LP lifted its position in Haemonetics by 21.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,057 shares of the medical instruments supplier’s stock worth $74,731,000 after acquiring an additional 233,119 shares during the period. Assenagon Asset Management S.A. grew its stake in Haemonetics by 1,191.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 453,579 shares of the medical instruments supplier’s stock valued at $47,762,000 after purchasing an additional 418,470 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Haemonetics in the second quarter valued at about $33,326,000. William Blair Investment Management LLC acquired a new position in shares of Haemonetics in the second quarter valued at about $24,906,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Haemonetics in the second quarter valued at about $21,566,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Haemonetics Company Profile

Haemonetics Corporation is a global medical technology company focused on blood and plasma collection, processing and management. Its products and services are used by plasma collection organizations, blood centers and hospitals.

The company provides automated plasma collection systems and related software and supplies, as well as technologies for collecting and processing blood components. Its hospital offerings include devices for surgical blood salvage and tools that help clinicians assess blood clotting and guide transfusion decisions.

Founded in 1971, Haemonetics serves customers in multiple regions around the world.