Haemonetics (NYSE:HAE) Now Covered by JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Haemonetics (NYSE:HAE) in a research note issued on Friday, Marketbeat reports. The firm set an “overweight” rating and a $116.00 price target on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 43.81% from the stock’s previous close.

A number of other brokerages have also recently issued reports on HAE. CL King assumed coverage on shares of Haemonetics in a report on Friday, September 13th. They set a “buy” rating and a $116.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. BTIG Research assumed coverage on Haemonetics in a report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 target price on the stock. Citigroup dropped their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Bank of America started coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.78.

Haemonetics Stock Down 3.4 %

NYSE HAE opened at $80.66 on Friday. Haemonetics has a 1-year low of $70.25 and a 1-year high of $97.97. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.32 and a beta of 0.38. The stock’s 50 day moving average is $80.65 and its two-hundred day moving average is $81.93. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The firm had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. During the same period in the prior year, the business posted $0.99 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake 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 buying an additional 363,702 shares during the last quarter. Royce & Associates LP grew its holdings in Haemonetics by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier’s stock worth $97,304,000 after acquiring an additional 30,868 shares during the period. Geode Capital Management LLC raised its position in shares of Haemonetics by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock valued at $95,986,000 after acquiring an additional 21,547 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake 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 purchasing an additional 250,833 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Haemonetics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock worth $80,972,000 after purchasing an additional 57,665 shares during the last quarter. 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.