Haemonetics (HAE) PT Lowered to $100 at JMP Securities

JMP Securities analyst David Turkaly lowered the price target on Haemonetics (NYSE: HAE) to $100.00 (from $125.00) while maintaining a Market Outperform rating.

The analyst commented, “We still believe HAE's new products offer the most value in the plasma collection industry, with the ability to increase donor yield, in combination with the recently FDA-cleared system (software and Persona technology adding ~9%-12%), and save time (potentially over 16 minutes door to door). And now, the even newer Express Plus offering should bring collection times down into the 33-38 minute range, which is an additional ~20% reduction.”

Furthermore, “Management noted that it expects to upgrade the remainder of its Nexus customers to Express Plus and Persona before the end of this fiscal year, which is now two months away.”

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