Needham Reaffirms Their Buy Rating on Haemonetics (HAE)


In a report released today, Michael Matson from Needham reiterated a Buy rating on Haemonetics (HAE), with a price target of $132.00. The company’s shares closed last Tuesday at $108.38.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 5.1% and a 54.3% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Haemonetics is a Strong Buy with an average price target of $143.75.

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Based on Haemonetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $259 million and net profit of $29.9 million. In comparison, last year the company earned revenue of $247 million and had a net profit of $18.28 million.

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Haemonetics Corp. engages in the development and distribution of hematology products and solutions. It operates through the following geographical segments: Japan, EMEA (Europe, the Middle East, and Africa), North America Plasma, and All Other. Its products include surgical and diagnostic devices, blood and plasma center devices, blood center software, hospital software, and plasma center software. The company was founded by Allen Latham, Jr. in 1971 and is headquartered in Braintree, MA.

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