Haemonetics Corporation (HAE) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Haemonetics Corporation (NYSE:HAE) posted its quarterly earnings results on Monday. The medical instruments supplier reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02, MarketWatch Earnings reports. The business had revenue of $211 million during the quarter, compared to analysts’ expectations of $211.29 million. Haemonetics Corporation had a positive return on equity of 10.66% and a negative net margin of 2.96%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS.
Haemonetics Corporation (NYSE HAE) opened at 41.19 on Monday. The company has a 50-day moving average price of $39.97 and a 200 day moving average price of $40.06. The stock’s market capitalization is $2.16 billion. Haemonetics Corporation has a 1-year low of $32.76 and a 1-year high of $43.62.
In other news, Director Ronald Merriman sold 17,471 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $40.33, for a total transaction of $704,605.43. Following the completion of the sale, the director now owns 24,925 shares in the company, valued at approximately $1,005,225.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Haemonetics Corporation by 48,854.9% in the first quarter. BlackRock Inc. now owns 6,289,728 shares of the medical instruments supplier’s stock valued at $255,175,000 after buying an additional 6,276,880 shares during the period. Vanguard Group Inc. increased its stake in shares of Haemonetics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 4,694,325 shares of the medical instruments supplier’s stock valued at $190,449,000 after buying an additional 332,087 shares during the period. Wellington Management Group LLP increased its stake in shares of Haemonetics Corporation by 22.6% in the first quarter. Wellington Management Group LLP now owns 4,192,350 shares of the medical instruments supplier’s stock valued at $170,084,000 after buying an additional 774,089 shares during the period. Wells Fargo & Company MN increased its stake in shares of Haemonetics Corporation by 9.3% in the first quarter. Wells Fargo & Company MN now owns 2,549,828 shares of the medical instruments supplier’s stock valued at $103,446,000 after buying an additional 217,836 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Haemonetics Corporation by 11.0% in the first quarter. Victory Capital Management Inc. now owns 2,394,135 shares of the medical instruments supplier’s stock valued at $97,130,000 after buying an additional 236,481 shares during the period.
Several equities analysts recently weighed in on HAE shares. BidaskClub downgraded Haemonetics Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. TheStreet downgraded Haemonetics Corporation from a “b-” rating to a “c” rating in a research note on Monday, May 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Haemonetics Corporation in a research note on Monday, May 8th. Zacks Investment Research raised Haemonetics Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, JMP Securities raised Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Haemonetics Corporation has an average rating of “Hold” and a consensus price target of $38.71.
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About Haemonetics Corporation
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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