Haemonetics (NYSE:HAE) Lowered to “Underperform” Rating by Bank of America

Bank of America downgraded shares of Haemonetics (NYSE:HAE) from a neutral rating to an underperform rating in a research note published on Friday morning, Marketbeat.com reports. The brokerage currently has $68.00 target price on the medical instruments supplier’s stock, down from their previous target price of $95.00.

Several other analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $112.00 target price on shares of Haemonetics in a research report on Tuesday, December 3rd. Barrington Research cut their target price on Haemonetics from $108.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research report on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Haemonetics Stock Performance

Shares of Haemonetics stock opened at $59.34 on Friday. The firm has a 50 day simple moving average of $76.94 and a 200 day simple moving average of $78.62. The firm has a market cap of $2.98 billion, a P/E ratio of 23.36, a P/E/G ratio of 0.98 and a beta of 0.39. Haemonetics has a fifty-two week low of $59.09 and a fifty-two week high of $97.97. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.09.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. Sell-side analysts predict that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Haemonetics

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in 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 purchasing an additional 363,702 shares during the last quarter. Royce & Associates LP boosted its stake in shares of 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 buying an additional 30,868 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $95,986,000 after buying an additional 21,547 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings 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 acquiring an additional 250,833 shares in the last quarter. Finally, Boston Trust Walden Corp increased its position in shares of Haemonetics by 13.1% in the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier’s stock valued at $71,500,000 after acquiring an additional 106,114 shares during the last quarter. 99.67% of the stock is owned by 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.