Wall Street analysts expect Haemonetics Co. (NYSE:HAE) to report $0.43 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Haemonetics’ earnings. The highest EPS estimate is $0.44 and the lowest is $0.40. Haemonetics reported earnings of $0.39 per share in the same quarter last year, which indicates a positive year over year growth rate of 10.3%. The business is scheduled to report its next quarterly earnings report on Monday, May 14th.
On average, analysts expect that Haemonetics will report full-year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.84 to $1.88. For the next financial year, analysts expect that the business will post earnings of $2.13 per share, with EPS estimates ranging from $2.00 to $2.28. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Haemonetics.
Haemonetics (NYSE:HAE) last released its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.18. The business had revenue of $234.04 million for the quarter, compared to analysts’ expectations of $227.79 million. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share.
HAE has been the topic of a number of research reports. Morgan Stanley upgraded shares of Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Tuesday, January 9th. ValuEngine upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Raymond James Financial upgraded shares of Haemonetics from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Finally, Jefferies Group boosted their target price on shares of Haemonetics from $18.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.33.
Shares of HAE stock opened at $73.32 on Tuesday. Haemonetics has a 12 month low of $38.47 and a 12 month high of $75.45. The firm has a market cap of $3,921.45, a PE ratio of 40.31, a price-to-earnings-growth ratio of 3.17 and a beta of 0.89. The company has a current ratio of 1.82, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14.
Haemonetics announced that its Board of Directors has approved a share buyback plan on Tuesday, February 6th that allows the company to buyback $260.00 million in outstanding shares. This buyback authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In other news, EVP Michelle L. Basil sold 389 shares of Haemonetics stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $72.23, for a total value of $28,097.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dan Goldstein sold 518 shares of Haemonetics stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $54.65, for a total value of $28,308.70. Following the completion of the transaction, the vice president now directly owns 4,002 shares of the company’s stock, valued at approximately $218,709.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,329 shares of company stock worth $77,788. Company insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in shares of Haemonetics by 3.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 51,256 shares of the medical instruments supplier’s stock worth $2,300,000 after purchasing an additional 1,879 shares during the last quarter. American International Group Inc. raised its position in shares of Haemonetics by 1.8% in the 4th quarter. American International Group Inc. now owns 42,271 shares of the medical instruments supplier’s stock worth $2,455,000 after purchasing an additional 743 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Haemonetics by 3.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 589,379 shares of the medical instruments supplier’s stock worth $26,446,000 after purchasing an additional 20,925 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Haemonetics in the 4th quarter worth about $6,257,000. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Haemonetics by 16.7% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 23,100 shares of the medical instruments supplier’s stock worth $1,341,000 after purchasing an additional 3,300 shares during the last quarter.
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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