Needham & Company LLC Boosts Haemonetics (NYSE:HAE) Price Target to $78.00

Haemonetics (NYSE:HAE) had its price target hoisted by equities research analysts at Needham & Company LLC from $68.00 to $78.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Needham & Company LLC’s price target would suggest a potential upside of 10.33% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Mizuho dropped their price objective on shares of Haemonetics from $90.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Weiss Ratings cut shares of Haemonetics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Citigroup reduced their price target on Haemonetics from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Barrington Research reaffirmed an “outperform” rating and issued a $86.00 price objective on shares of Haemonetics in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $62.00 target price (down from $85.00) on shares of Haemonetics in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Haemonetics Stock Performance

Haemonetics stock traded up $3.59 during trading hours on Friday, hitting $70.70. The company had a trading volume of 765,713 shares, compared to its average volume of 837,053. Haemonetics has a one year low of $47.31 and a one year high of $94.99. The firm has a market cap of $3.41 billion, a PE ratio of 21.55, a PEG ratio of 0.91 and a beta of 0.43. The firm has a 50-day moving average of $51.25 and a 200 day moving average of $62.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.04.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.15. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%.The company had revenue of $327.32 million for the quarter, compared to analyst estimates of $311.61 million. During the same quarter last year, the company earned $1.12 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. Haemonetics has set its FY 2026 guidance at 4.800-5.00 EPS. On average, sell-side analysts expect that Haemonetics will post 4.55 earnings per share for the current year.

Institutional Trading of Haemonetics

Several institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Haemonetics during the first quarter worth $468,000. AQR Capital Management LLC lifted its position in shares of Haemonetics by 591.6% during the 1st quarter. AQR Capital Management LLC now owns 174,565 shares of the medical instruments supplier’s stock valued at $10,931,000 after acquiring an additional 149,325 shares during the period. Envestnet Asset Management Inc. increased its stake in Haemonetics by 16.0% in the first quarter. Envestnet Asset Management Inc. now owns 55,746 shares of the medical instruments supplier’s stock valued at $3,543,000 after purchasing an additional 7,678 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Haemonetics by 2.3% during the first quarter. Royal Bank of Canada now owns 1,075,604 shares of the medical instruments supplier’s stock valued at $68,355,000 after purchasing an additional 24,650 shares during the period. Finally, Invenomic Capital Management LP acquired a new stake in shares of Haemonetics in the 1st quarter valued at about $6,783,000. 99.67% of the stock is currently owned by institutional investors.

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.