Wall Street analysts expect Haemonetics (NYSE:HAE) to announce sales of $219.52 million for the current quarter, Zacks reports. Four analysts have provided estimates for Haemonetics’ earnings. The highest sales estimate is $221.62 million and the lowest is $216.20 million. Haemonetics posted sales of $210.95 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.1%. The firm is expected to report its next earnings report on Monday, August 6th.
On average, analysts expect that Haemonetics will report full-year sales of $946.65 million for the current fiscal year, with estimates ranging from $942.90 million to $952.90 million. For the next fiscal year, analysts anticipate that the business will post sales of $1.02 billion per share, with estimates ranging from $989.10 million to $1.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Haemonetics.
Haemonetics (NYSE:HAE) last announced its earnings results on Tuesday, May 8th. The medical instruments supplier reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Haemonetics had a net margin of 5.04% and a return on equity of 12.71%. The business had revenue of $233.55 million during the quarter, compared to analysts’ expectations of $226.63 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis.
Several research analysts recently commented on the stock. TheStreet upgraded shares of Haemonetics from a “c+” rating to a “b” rating in a report on Tuesday, May 8th. Barrington Research increased their target price on shares of Haemonetics to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, May 9th. Jefferies Group increased their target price on shares of Haemonetics to $95.00 and gave the stock a “buy” rating in a report on Wednesday, May 9th. Morgan Stanley increased their target price on shares of Haemonetics from $77.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 9th. Finally, Zacks Investment Research upgraded shares of Haemonetics from a “sell” rating to a “hold” rating in a report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $80.83.
Haemonetics traded up $2.01, hitting $90.92, during trading hours on Wednesday, according to Marketbeat Ratings. 500,400 shares of the company’s stock were exchanged, compared to its average volume of 491,510. Haemonetics has a 1-year low of $38.47 and a 1-year high of $91.55. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 4.02 and a beta of 0.90. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08.
Haemonetics announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 6th that permits the company to repurchase $260.00 million in shares. This repurchase authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Haemonetics news, VP Dan Goldstein sold 518 shares of the stock in a transaction on Friday, April 6th. The shares were sold at an average price of $54.65, for a total value of $28,308.70. Following the completion of the sale, the vice president now owns 4,002 shares in the company, valued at $218,709.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michelle L. Basil sold 389 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $72.23, for a total transaction of $28,097.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,021 shares of company stock valued at $64,640. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Haemonetics by 3.8% in the first quarter. BlackRock Inc. now owns 6,924,926 shares of the medical instruments supplier’s stock valued at $506,627,000 after acquiring an additional 253,938 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Haemonetics by 0.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,428,236 shares of the medical instruments supplier’s stock valued at $141,032,000 after acquiring an additional 13,710 shares during the last quarter. Millennium Management LLC lifted its stake in Haemonetics by 1,765.9% in the first quarter. Millennium Management LLC now owns 1,183,544 shares of the medical instruments supplier’s stock valued at $86,588,000 after acquiring an additional 1,120,115 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Haemonetics by 11.5% in the fourth quarter. Renaissance Technologies LLC now owns 977,100 shares of the medical instruments supplier’s stock valued at $56,750,000 after acquiring an additional 100,893 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Haemonetics by 1.1% in the first quarter. Northern Trust Corp now owns 684,071 shares of the medical instruments supplier’s stock valued at $50,047,000 after acquiring an additional 7,372 shares during the last quarter. Hedge funds and other institutional investors own 97.34% of the company’s stock.
Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers plasma collection and storage products, including PCS brand plasma collection equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; Multicomponent Collection System brand apheresis equipment to collect specific blood components integrated from the donor; Automated Cell Processor brand solution to automate the washing and freezing of red cell components; and whole blood collection and processing products.
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