Haemonetics Corporation (NYSE:HAE) – Analysts at Jefferies Group decreased their Q3 2018 earnings per share (EPS) estimates for shares of Haemonetics in a research report issued on Monday, Zacks Investment Research reports. Jefferies Group analyst A. Petrone now anticipates that the medical instruments supplier will post earnings per share of $0.45 for the quarter, down from their prior estimate of $0.46. Jefferies Group currently has a “Buy” rating and a $75.00 target price on the stock. Jefferies Group also issued estimates for Haemonetics’ Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.66 EPS, FY2020 earnings at $2.80 EPS, FY2021 earnings at $3.75 EPS and FY2022 earnings at $4.35 EPS.
Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Haemonetics had a net margin of 0.50% and a return on equity of 11.16%. The firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $219.12 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year.
HAE has been the subject of a number of other reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 target price (up from $38.00) on shares of Haemonetics in a report on Friday, October 6th. Zacks Investment Research raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, October 25th. Raymond James Financial raised shares of Haemonetics from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Barrington Research upped their target price on shares of Haemonetics from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $50.00 target price (up from $40.00) on shares of Haemonetics in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.83.
Shares of Haemonetics (HAE) traded up $1.15 on Wednesday, reaching $65.09. 359,100 shares of the company were exchanged, compared to its average volume of 521,300. Haemonetics has a 52-week low of $36.44 and a 52-week high of $65.25. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3,377.20, a PE ratio of 813.73, a PEG ratio of 4.83 and a beta of 0.99.
A number of institutional investors and hedge funds have recently modified their holdings of HAE. Victory Capital Management Inc. grew its position in Haemonetics by 18.7% during the third quarter. Victory Capital Management Inc. now owns 2,414,526 shares of the medical instruments supplier’s stock worth $108,340,000 after buying an additional 381,012 shares during the period. Acadian Asset Management LLC grew its position in Haemonetics by 100.8% during the fourth quarter. Acadian Asset Management LLC now owns 524,768 shares of the medical instruments supplier’s stock worth $30,479,000 after buying an additional 263,432 shares during the period. HealthCor Management L.P. grew its position in Haemonetics by 15.9% during the second quarter. HealthCor Management L.P. now owns 1,854,872 shares of the medical instruments supplier’s stock worth $73,249,000 after buying an additional 254,872 shares during the period. Wells Fargo & Company MN grew its position in Haemonetics by 9.3% during the second quarter. Wells Fargo & Company MN now owns 2,788,122 shares of the medical instruments supplier’s stock worth $110,104,000 after buying an additional 238,294 shares during the period. Finally, Neuberger Berman Group LLC grew its position in Haemonetics by 10.2% during the third 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 during the period.
In related news, Director Susan Bartlett Foote sold 16,926 shares of the stock in a transaction dated Friday, November 10th. The shares were 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 directly owns 27,313 shares of the company’s stock, valued at $1,480,091.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark W. Kroll sold 7,118 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $63.00, for a total transaction of $448,434.00. Following the transaction, the director now directly owns 33,881 shares of the company’s stock, valued at $2,134,503. The disclosure for this sale can be found here. Insiders have sold 54,486 shares of company stock valued at $3,050,827 over the last three months. 1.20% of the stock is currently owned by corporate insiders.
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Haemonetics Company Profile
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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