Haemonetics (HAE) Releases Quarterly Earnings Results

Haemonetics (NYSE:HAE) posted its quarterly earnings results on Tuesday. The medical instruments supplier reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02, MarketWatch Earnings reports. The business had revenue of $241.58 million during the quarter, compared to the consensus estimate of $233.44 million. Haemonetics had a net margin of 2.26% and a return on equity of 16.04%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Haemonetics updated its FY 2018 guidance to $2.25-2.35 EPS and its FY19 guidance to $2.25-2.35 EPS.

Shares of Haemonetics stock traded down $0.01 on Thursday, reaching $115.08. 3,002 shares of the stock were exchanged, compared to its average volume of 462,794. Haemonetics has a 1-year low of $51.38 and a 1-year high of $117.56. The company has a quick ratio of 1.94, a current ratio of 2.92 and a debt-to-equity ratio of 0.47. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 3.52 and a beta of 1.09.

In other news, CFO William P. Mr. Burke sold 841 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $46.76, for a total transaction of $39,325.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jacqueline Scanlan sold 4,890 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $112.19, for a total transaction of $548,609.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,275 shares of company stock worth $4,069,830. Company insiders own 1.04% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. UBS Group AG grew its position in Haemonetics by 17.9% during the first quarter. UBS Group AG now owns 14,396 shares of the medical instruments supplier’s stock worth $1,053,000 after buying an additional 2,185 shares during the period. Principal Financial Group Inc. grew its position in Haemonetics by 3.7% during the first quarter. Principal Financial Group Inc. now owns 446,448 shares of the medical instruments supplier’s stock worth $32,662,000 after buying an additional 16,073 shares during the period. Allianz Asset Management GmbH acquired a new position in Haemonetics during the first quarter worth about $8,313,000. Clinton Group Inc. acquired a new position in Haemonetics during the second quarter worth about $1,279,000. Finally, Bank of Montreal Can grew its position in Haemonetics by 195.7% during the second quarter. Bank of Montreal Can now owns 4,172 shares of the medical instruments supplier’s stock worth $375,000 after buying an additional 2,761 shares during the period. Institutional investors and hedge funds own 96.44% of the company’s stock.

HAE has been the subject of several research reports. Barrington Research restated a “buy” rating and issued a $127.00 price target on shares of Haemonetics in a research note on Friday, October 5th. TheStreet cut shares of Haemonetics from a “b” rating to a “c+” rating in a research report on Monday, August 20th. Zacks Investment Research raised shares of Haemonetics from a “hold” rating to a “strong-buy” rating and set a $122.00 target price for the company in a report on Friday, October 12th. Morgan Stanley upped their target price on shares of Haemonetics from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, August 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $102.67.

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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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Earnings History for Haemonetics (NYSE:HAE)

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