Haemonetics (NYSE:HAE) Issues Earnings Results

Haemonetics (NYSE:HAEGet Free Report) issued its quarterly earnings data on Thursday. The medical instruments supplier reported $1.04 EPS for the quarter, beating the consensus estimate of $0.94 by $0.10, Briefing.com reports. Haemonetics had a return on equity of 22.37% and a net margin of 9.97%. The company had revenue of $336.20 million for the quarter, compared to analyst estimates of $320.84 million. During the same period last year, the company earned $0.85 earnings per share. Haemonetics’s quarterly revenue was up 10.1% compared to the same quarter last year. Haemonetics updated its FY 2024 guidance to 3.900-4.000 EPS and its FY24 guidance to $3.90-4.00 EPS.

Haemonetics Stock Performance

NYSE HAE opened at $74.20 on Friday. The company has a market cap of $3.76 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 1.90 and a beta of 0.34. The stock’s 50 day simple moving average is $83.19 and its 200-day simple moving average is $86.48. Haemonetics has a 1-year low of $73.02 and a 1-year high of $95.26. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.92 and a quick ratio of 2.19.

Analyst Ratings Changes

Several analysts have commented on the company. Barrington Research dropped their price objective on Haemonetics from $114.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. StockNews.com downgraded Haemonetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 16th.

Check Out Our Latest Research Report on HAE

Hedge Funds Weigh In On Haemonetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its position in shares of Haemonetics by 65.2% in the fourth quarter. Meeder Asset Management Inc. now owns 342 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 135 shares in the last quarter. State of Wyoming purchased a new position in Haemonetics during the fourth quarter worth approximately $28,000. Belpointe Asset Management LLC lifted its position in Haemonetics by 65.5% during the first quarter. Belpointe Asset Management LLC now owns 455 shares of the medical instruments supplier’s stock worth $38,000 after buying an additional 180 shares in the last quarter. Quarry LP lifted its position in Haemonetics by 262.7% during the second quarter. Quarry LP now owns 584 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 423 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Haemonetics by 21.7% during the second quarter. Parkside Financial Bank & Trust now owns 786 shares of the medical instruments supplier’s stock worth $67,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

About Haemonetics

(Get Free Report)

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system, and Donor360.

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Earnings History for Haemonetics (NYSE:HAE)

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