Haemonetics Corporation (HAE) Expected to Post Earnings of $0.44 Per Share

Wall Street brokerages expect Haemonetics Corporation (NYSE:HAE) to announce earnings of $0.44 per share for the current quarter, according to Zacks. Four analysts have made estimates for Haemonetics’ earnings. The lowest EPS estimate is $0.41 and the highest is $0.46. Haemonetics reported earnings of $0.43 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The firm is expected to report its next earnings report on Monday, February 5th.

On average, analysts expect that Haemonetics will report full-year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.67 to $1.72. For the next financial year, analysts expect that the company will post earnings of $1.86 per share, with EPS estimates ranging from $1.75 to $1.95. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Haemonetics.

Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $219.12 million. Haemonetics had a return on equity of 11.16% and a net margin of 0.50%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share.

Several research analysts have weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price target (up previously from $38.00) on shares of Haemonetics in a research report on Friday, October 6th. Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, October 25th. Barrington Research boosted their price target on Haemonetics from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Finally, Craig Hallum restated a “hold” rating and issued a $50.00 price target (up from $40.00) on shares of Haemonetics in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Haemonetics currently has an average rating of “Hold” and an average target price of $53.33.

In other news, Director Susan Bartlett Foote sold 16,926 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $54.19, for a total transaction of $917,219.94. Following the completion of the transaction, the director now owns 27,313 shares of the company’s stock, valued at approximately $1,480,091.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pedro P. Granadillo sold 7,118 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $57.06, for a total value of $406,153.08. Following the transaction, the director now directly owns 31,663 shares of the company’s stock, valued at approximately $1,806,690.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,368 shares of company stock valued at $2,602,393. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP raised its holdings in shares of Haemonetics by 377.6% during the 3rd quarter. GSA Capital Partners LLP now owns 44,210 shares of the medical instruments supplier’s stock worth $1,984,000 after buying an additional 34,953 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Haemonetics by 10.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock worth $92,139,000 after buying an additional 189,797 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Haemonetics by 9.2% during the 3rd quarter. California Public Employees Retirement System now owns 100,558 shares of the medical instruments supplier’s stock worth $4,512,000 after buying an additional 8,458 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Haemonetics by 3.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 51,256 shares of the medical instruments supplier’s stock worth $2,300,000 after buying an additional 1,879 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Haemonetics by 31.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 8,677 shares of the medical instruments supplier’s stock worth $389,000 after buying an additional 2,082 shares in the last quarter.

Shares of Haemonetics (NYSE HAE) traded up $0.06 during trading on Friday, reaching $58.32. The company had a trading volume of 226,700 shares, compared to its average volume of 357,870. Haemonetics has a 1-year low of $36.44 and a 1-year high of $58.99. The firm has a market cap of $3,077.19, a price-to-earnings ratio of 729.09, a PEG ratio of 4.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.17.

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About Haemonetics

Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.

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Earnings History and Estimates for Haemonetics (NYSE:HAE)

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