Barrington Research Cuts Haemonetics (NYSE:HAE) Price Target to $71.00

Haemonetics (NYSE:HAE) had its target price decreased by Barrington Research from $91.00 to $71.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Barrington Research’s price objective indicates a potential upside of 37.04% from the company’s current price.

Other analysts have also recently issued research reports about the stock. JMP Securities decreased their price target on shares of Haemonetics from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday. Zacks Investment Research downgraded Haemonetics from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Thursday, March 11th. TheStreet cut Haemonetics from a “b-” rating to a “c” rating in a report on Tuesday, May 4th. CJS Securities cut Haemonetics from an “outperform” rating to a “market perform” rating in a report on Monday, April 19th. Finally, Raymond James raised their target price on shares of Haemonetics from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, February 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $104.00.

Shares of HAE opened at $51.81 on Friday. The business’s 50 day moving average is $91.26 and its 200 day moving average is $112.08. The company has a current ratio of 2.25, a quick ratio of 1.34 and a debt-to-equity ratio of 0.44. Haemonetics has a 12-month low of $49.26 and a 12-month high of $142.11. The company has a market capitalization of $2.63 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 5.17 and a beta of 0.56.

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, May 13th. The medical instruments supplier reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.21). Haemonetics had a net margin of 11.76% and a return on equity of 22.85%. The company had revenue of $225.00 million for the quarter, compared to analysts’ expectations of $223.92 million. During the same period last year, the business earned $0.69 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities research analysts predict that Haemonetics will post 2.45 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in HAE. Van ECK Associates Corp bought a new position in shares of Haemonetics during the 1st quarter valued at approximately $28,000. Meeder Asset Management Inc. boosted its stake in Haemonetics by 7,350.0% during the first quarter. Meeder Asset Management Inc. now owns 298 shares of the medical instruments supplier’s stock worth $33,000 after buying an additional 294 shares during the period. Altshuler Shaham Ltd bought a new position in Haemonetics during the first quarter valued at $35,000. Berman Capital Advisors LLC purchased a new stake in shares of Haemonetics in the fourth quarter valued at $47,000. Finally, IFP Advisors Inc lifted its holdings in shares of Haemonetics by 531.0% in the 4th quarter. IFP Advisors Inc now owns 530 shares of the medical instruments supplier’s stock worth $62,000 after acquiring an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous 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.

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