Barrington Research Analysts Increase Earnings Estimates for Haemonetics Co. (HAE)

Haemonetics Co. (NYSE:HAE) – Equities research analysts at Barrington Research upped their FY2019 earnings per share estimates for Haemonetics in a report released on Wednesday, November 7th. Barrington Research analyst M. Petusky now expects that the medical instruments supplier will post earnings of $2.32 per share for the year, up from their prior estimate of $2.28. Barrington Research has a “Buy” rating and a $127.00 price objective on the stock. Barrington Research also issued estimates for Haemonetics’ FY2020 earnings at $3.00 EPS.

A number of other research firms also recently commented on HAE. TheStreet downgraded Haemonetics from a “b” rating to a “c+” rating in a research report on Monday, August 20th. Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research report on Friday, October 12th. Morgan Stanley boosted their target price on Haemonetics from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $125.00 target price on shares of Haemonetics in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Haemonetics presently has an average rating of “Buy” and a consensus price target of $113.20.

HAE opened at $111.61 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.94 and a debt-to-equity ratio of 0.47. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 59.68, a PEG ratio of 3.67 and a beta of 1.09. Haemonetics has a one year low of $53.74 and a one year high of $117.56.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Tuesday, November 6th. The medical instruments supplier reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. Haemonetics had a return on equity of 16.04% and a net margin of 2.26%. The firm had revenue of $241.58 million for the quarter, compared to the consensus estimate of $233.44 million. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year.

Several large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its position in shares of Haemonetics by 2.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 33,558 shares of the medical instruments supplier’s stock valued at $3,009,000 after acquiring an additional 810 shares in the last quarter. Amalgamated Bank lifted its position in shares of Haemonetics by 13.6% in the second quarter. Amalgamated Bank now owns 8,757 shares of the medical instruments supplier’s stock valued at $785,000 after acquiring an additional 1,046 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Haemonetics by 14.7% in the third quarter. Xact Kapitalforvaltning AB now owns 8,595 shares of the medical instruments supplier’s stock valued at $985,000 after acquiring an additional 1,100 shares in the last quarter. GAM Holding AG lifted its position in shares of Haemonetics by 22.4% in the second quarter. GAM Holding AG now owns 6,343 shares of the medical instruments supplier’s stock valued at $569,000 after acquiring an additional 1,159 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its position in shares of Haemonetics by 75.8% in the second quarter. LS Investment Advisors LLC now owns 3,174 shares of the medical instruments supplier’s stock valued at $285,000 after acquiring an additional 1,369 shares in the last quarter. Institutional investors and hedge funds own 96.44% of the company’s stock.

In other news, Director Pedro P. Granadillo sold 12,322 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $114.50, for a total value of $1,410,869.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO William P. Mr. Burke sold 13,056 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $114.33, for a total value of $1,492,692.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,653 shares of company stock worth $6,973,391. 1.04% of the stock is owned by company insiders.

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 and Estimates for Haemonetics (NYSE:HAE)

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