Analysts predict that Haemonetics Co. (NYSE:HAE) will post sales of $233.53 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Haemonetics’ earnings. The highest sales estimate is $234.49 million and the lowest is $232.70 million. Haemonetics reported sales of $225.38 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The firm is expected to issue its next earnings report on Tuesday, November 6th.
On average, analysts expect that Haemonetics will report full-year sales of $950.38 million for the current financial year, with estimates ranging from $946.90 million to $954.31 million. For the next year, analysts expect that the firm will report sales of $1.03 billion per share, with estimates ranging from $1.01 billion to $1.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Haemonetics.
Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Tuesday, August 7th. The medical instruments supplier reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.17. Haemonetics had a return on equity of 15.00% and a net margin of 2.45%. The company had revenue of $229.35 million for the quarter, compared to analyst estimates of $219.52 million.
Several analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 7th. Morgan Stanley upped their target price on Haemonetics from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, August 8th. Barrington Research upped their target price on Haemonetics from $90.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Tuesday, June 12th. Finally, TheStreet lowered Haemonetics from a “b” rating to a “c+” rating in a report on Monday, August 20th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $98.33.
HAE opened at $111.86 on Friday. Haemonetics has a 52-week low of $41.54 and a 52-week high of $113.61. The stock has a market cap of $5.77 billion, a P/E ratio of 59.83, a P/E/G ratio of 3.63 and a beta of 1.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.94 and a current ratio of 2.84.
In other Haemonetics news, CFO William P. Mr. Burke sold 6,687 shares of the business’s stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $92.17, for a total transaction of $616,340.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jacqueline Scanlan sold 4,890 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $112.19, for a total value of $548,609.10. The disclosure for this sale can be found here. Insiders have sold 21,770 shares of company stock worth $1,832,916 in the last quarter. 1.04% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HAE. Millennium Management LLC increased its position in Haemonetics by 1,765.9% during the first quarter. Millennium Management LLC now owns 1,183,544 shares of the medical instruments supplier’s stock worth $86,588,000 after buying an additional 1,120,115 shares during the last quarter. Renaissance Technologies LLC increased its position in Haemonetics by 49.3% during the second quarter. Renaissance Technologies LLC now owns 1,969,700 shares of the medical instruments supplier’s stock worth $176,643,000 after buying an additional 650,200 shares during the last quarter. JPMorgan Chase & Co. increased its position in Haemonetics by 287.6% during the first quarter. JPMorgan Chase & Co. now owns 540,630 shares of the medical instruments supplier’s stock worth $39,552,000 after buying an additional 401,164 shares during the last quarter. BlackRock Inc. increased its position in Haemonetics by 3.8% during the first quarter. BlackRock Inc. now owns 6,924,926 shares of the medical instruments supplier’s stock worth $506,627,000 after buying an additional 253,938 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Haemonetics during the second quarter worth approximately $18,272,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.
Haemonetics Company Profile
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 automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 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; and NexLynk DMS donor management system.
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