Zacks: Analysts Expect Haemonetics Corporation (HAE) Will Post Quarterly Sales of $226.94 Million
Brokerages forecast that Haemonetics Corporation (NYSE:HAE) will report $226.94 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Haemonetics’ earnings, with estimates ranging from $224.80 million to $228.30 million. Haemonetics reported sales of $227.84 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The business is scheduled to report its next earnings report on Monday, February 5th.
On average, analysts expect that Haemonetics will report full year sales of $226.94 million for the current year, with estimates ranging from $887.29 million to $901.63 million. For the next year, analysts anticipate that the company will post sales of $926.85 million per share, with estimates ranging from $914.87 million to $945.41 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Haemonetics.
Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. The company had revenue of $225.40 million for the quarter, compared to analyst estimates of $219.12 million. Haemonetics had a net margin of 0.50% and a return on equity of 11.16%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share.
HAE has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price target (up from $38.00) on shares of Haemonetics in a research note on Friday, October 6th. Barrington Research boosted their price target on shares of Haemonetics from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, Craig Hallum reiterated a “hold” rating and set a $50.00 price target (up from $40.00) on shares of Haemonetics in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Haemonetics currently has a consensus rating of “Hold” and an average price target of $53.33.
Shares of Haemonetics (NYSE HAE) traded up $1.05 during trading hours on Thursday, reaching $58.17. 418,200 shares of the company’s stock were exchanged, compared to its average volume of 359,508. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.17 and a quick ratio of 1.51. The stock has a market capitalization of $3,016.98, a price-to-earnings ratio of 35.04, a PEG ratio of 4.29 and a beta of 0.99. Haemonetics has a one year low of $36.44 and a one year high of $58.99.
In other news, CAO Dan Goldstein sold 4,691 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $54.93, for a total transaction of $257,676.63. Following the completion of the transaction, the chief accounting officer now directly owns 3,747 shares of the company’s stock, valued at $205,822.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pedro P. Granadillo sold 7,118 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $57.06, for a total value of $406,153.08. Following the transaction, the director now directly owns 31,663 shares of the company’s stock, valued at $1,806,690.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,368 shares of company stock valued at $2,602,393. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in HAE. Aperio Group LLC boosted its holdings in Haemonetics by 15.0% in the second quarter. Aperio Group LLC now owns 10,695 shares of the medical instruments supplier’s stock valued at $422,000 after purchasing an additional 1,393 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Haemonetics by 12.2% in the second quarter. Russell Investments Group Ltd. now owns 23,503 shares of the medical instruments supplier’s stock valued at $928,000 after purchasing an additional 2,553 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Haemonetics by 5.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,400 shares of the medical instruments supplier’s stock valued at $490,000 after purchasing an additional 600 shares in the last quarter. NGAM Advisors L.P. acquired a new position in Haemonetics in the second quarter valued at approximately $885,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Haemonetics by 4.1% in the second quarter. Great West Life Assurance Co. Can now owns 76,839 shares of the medical instruments supplier’s stock valued at $3,033,000 after purchasing an additional 3,050 shares in the last quarter.
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Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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