Analysts Expect Haemonetics Co. (HAE) to Announce $0.54 Earnings Per Share

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Analysts expect that Haemonetics Co. (NYSE:HAE) will announce earnings of $0.54 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Haemonetics’ earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.56. Haemonetics reported earnings of $0.48 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The company is expected to issue its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Haemonetics will report full year earnings of $2.28 per share for the current fiscal year, with EPS estimates ranging from $2.18 to $2.35. For the next fiscal year, analysts forecast that the business will report earnings of $2.95 per share, with EPS estimates ranging from $2.58 to $3.30. Zacks’ EPS averages are an average based on a survey of research firms that follow Haemonetics.

Haemonetics (NYSE:HAE) last posted its earnings results on Tuesday, August 7th. The medical instruments supplier reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.17. Haemonetics had a net margin of 2.45% and a return on equity of 15.00%. The company had revenue of $229.35 million for the quarter, compared to analysts’ expectations of $219.52 million.

Several analysts have recently issued reports on the stock. Barrington Research reissued a “buy” rating and set a $127.00 price target on shares of Haemonetics in a research report on Friday. TheStreet cut shares of Haemonetics from a “b” rating to a “c+” rating in a research report on Monday, August 20th. Morgan Stanley increased their price target on shares of Haemonetics from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 8th. Jefferies Financial Group reissued a “buy” rating and set a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 7th. Finally, Zacks Investment Research raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Tuesday, June 12th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $99.83.

In other news, SVP Jacqueline Scanlan sold 4,890 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $112.19, for a total transaction of $548,609.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pedro P. Granadillo sold 30,824 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $111.83, for a total transaction of $3,447,047.92. The disclosure for this sale can be found here. Insiders have sold 37,173 shares of company stock worth $4,059,457 in the last three months. Corporate insiders own 1.04% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of 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 period. Renaissance Technologies LLC increased its stake in shares of 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 period. Millennium Management LLC increased its stake in shares of 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 period. Acadian Asset Management LLC increased its stake in shares of Haemonetics by 28.3% during the second quarter. Acadian Asset Management LLC now owns 888,097 shares of the medical instruments supplier’s stock worth $79,646,000 after buying an additional 196,154 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Haemonetics by 22.7% during the second quarter. Northern Trust Corp now owns 839,525 shares of the medical instruments supplier’s stock worth $75,288,000 after buying an additional 155,454 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Shares of HAE traded down $0.29 during mid-day trading on Friday, hitting $108.71. 499,126 shares of the company’s stock were exchanged, compared to its average volume of 570,017. The stock has a market capitalization of $5.92 billion, a PE ratio of 58.13, a P/E/G ratio of 3.73 and a beta of 1.02. Haemonetics has a fifty-two week low of $44.61 and a fifty-two week high of $117.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.94 and a current ratio of 2.84.

About Haemonetics

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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