William Blair Comments on Haemonetics Co.’s Q3 2019 Earnings (HAE)

Haemonetics Co. (NYSE:HAE) – Stock analysts at William Blair lifted their Q3 2019 earnings per share (EPS) estimates for shares of Haemonetics in a report issued on Tuesday, November 6th. William Blair analyst B. Weinstein now forecasts that the medical instruments supplier will earn $0.60 per share for the quarter, up from their prior forecast of $0.58.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Tuesday, November 6th. The medical instruments supplier reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $241.58 million for the quarter, compared to analysts’ expectations of $233.44 million. During the same quarter in the previous year, the business posted $0.48 EPS. Haemonetics’s revenue for the quarter was up 7.2% on a year-over-year basis.

Several other equities analysts have also recently weighed in on HAE. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 price objective on shares of Haemonetics in a report on Tuesday, August 7th. Morgan Stanley lifted their price objective on Haemonetics from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, August 8th. Barrington Research lifted their price objective on Haemonetics from $90.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. TheStreet cut Haemonetics from a “b” rating to a “c+” rating in a report on Monday, August 20th. Finally, Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective on the stock in a report on Friday, October 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $113.20.

NYSE:HAE opened at $111.61 on Friday. Haemonetics has a fifty-two week low of $53.74 and a fifty-two week high of $117.56. 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 stock has a market cap of $5.95 billion, a PE ratio of 59.68, a price-to-earnings-growth ratio of 3.67 and a beta of 1.09.

In other Haemonetics news, Director Pedro P. Granadillo sold 30,824 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $111.83, for a total value of $3,447,047.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William P. Mr. Burke sold 13,056 shares of the business’s stock in a transaction that occurred 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. Insiders sold a total of 62,653 shares of company stock worth $6,973,391 in the last 90 days. Company insiders own 1.04% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Equity Partners LLC lifted its stake in Haemonetics by 34.0% in the 2nd quarter. Chicago Equity Partners LLC now owns 86,665 shares of the medical instruments supplier’s stock valued at $7,772,000 after acquiring an additional 22,000 shares in the last quarter. Liberty Mutual Group Asset Management Inc. bought a new stake in Haemonetics in the 2nd quarter valued at approximately $932,000. ING Groep NV bought a new stake in Haemonetics in the 2nd quarter valued at approximately $485,000. MetLife Investment Advisors LLC lifted its stake in Haemonetics by 142.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 57,955 shares of the medical instruments supplier’s stock valued at $5,197,000 after acquiring an additional 34,009 shares in the last quarter. Finally, Boston Partners bought a new stake in Haemonetics in the 2nd quarter valued at approximately $1,794,000. Hedge funds and other institutional investors own 96.44% of the company’s stock.

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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