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Needham Maintains Their Hold Rating on Haemonetics (HAE)

Needham analyst Michael Matson maintained a Hold rating on Haemonetics (HAEResearch Report) today. The company’s shares closed last Wednesday at $65.97.

According to TipRanks.com, Matson is a 3-star analyst with an average return of 1.8% and a 45.9% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Haemonetics with a $70.00 average price target.

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Based on Haemonetics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $265 million and net profit of $9.74 million. In comparison, last year the company earned revenue of $225 million and had a GAAP net loss of $11.04 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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