Brokerages Expect Haemonetics Co. (NYSE:HAE) Will Announce Earnings of $0.74 Per Share

Equities research analysts expect Haemonetics Co. (NYSE:HAE) to post earnings per share of $0.74 for the current quarter, according to Zacks. Four analysts have made estimates for Haemonetics’ earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.78. Haemonetics reported earnings per share of $0.56 in the same quarter last year, which indicates a positive year over year growth rate of 32.1%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, November 1st.

On average, analysts expect that Haemonetics will report full year earnings of $3.09 per share for the current fiscal year, with EPS estimates ranging from $3.05 to $3.15. For the next financial year, analysts anticipate that the business will report earnings of $3.69 per share, with EPS estimates ranging from $3.50 to $3.85. Zacks’ EPS averages are an average based on a survey of research analysts that cover Haemonetics.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.18. The business had revenue of $238.50 million during the quarter, compared to the consensus estimate of $236.82 million. Haemonetics had a return on equity of 21.07% and a net margin of 5.05%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS.

Several research firms recently issued reports on HAE. Jefferies Financial Group boosted their price target on Haemonetics from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on Haemonetics from $128.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. JMP Securities lifted their price objective on Haemonetics to $145.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barrington Research reaffirmed an “outperform” rating and issued a $139.00 price objective (up from $116.00) on shares of Haemonetics in a report on Wednesday, August 7th. Finally, ValuEngine cut Haemonetics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Haemonetics currently has an average rating of “Buy” and an average target price of $144.40.

In other news, CEO Christopher Simon sold 50,869 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $137.43, for a total transaction of $6,990,926.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William P. Mr. Burke sold 7,164 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $125.80, for a total value of $901,231.20. The disclosure for this sale can be found here. Insiders sold a total of 91,964 shares of company stock valued at $12,077,055 over the last ninety days. Insiders own 1.32% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Boston Trust Walden Corp raised its holdings in shares of Haemonetics by 0.8% during the 3rd quarter. Boston Trust Walden Corp now owns 118,939 shares of the medical instruments supplier’s stock worth $15,003,000 after buying an additional 920 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Haemonetics by 4.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,505 shares of the medical instruments supplier’s stock worth $442,000 after buying an additional 159 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Haemonetics by 89.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 9,594 shares of the medical instruments supplier’s stock worth $1,210,000 after buying an additional 4,521 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Haemonetics by 532.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,580 shares of the medical instruments supplier’s stock worth $199,000 after buying an additional 1,330 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Haemonetics during the 3rd quarter worth $512,000. 99.08% of the stock is owned by institutional investors.

HAE opened at $127.25 on Friday. The business has a fifty day simple moving average of $126.83 and a 200 day simple moving average of $114.50. The company has a market capitalization of $6.46 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 3.05 and a beta of 0.79. Haemonetics has a 1 year low of $80.24 and a 1 year high of $140.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.10 and a quick ratio of 1.34.

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.

Featured Article: Does a trade war provide a risk to the global economy?

Get a free copy of the Zacks research report on Haemonetics (HAE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Haemonetics (NYSE:HAE)

Receive News & Ratings for Haemonetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haemonetics and related companies with MarketBeat.com's FREE daily email newsletter.