Zacks: Analysts Anticipate Haemonetics (HAE) Will Announce Quarterly Sales of $219.52 Million

Brokerages forecast that Haemonetics (NYSE:HAE) will announce $219.52 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Haemonetics’ earnings. The lowest sales estimate is $216.20 million and the highest is $221.62 million. Haemonetics reported sales of $210.95 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The company is expected to issue its next quarterly earnings report on Monday, August 6th.

According to Zacks, analysts expect that Haemonetics will report full year sales of $946.65 million for the current year, with estimates ranging from $942.90 million to $952.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.02 billion per share, with estimates ranging from $989.10 million to $1.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Haemonetics.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Tuesday, May 8th. The medical instruments supplier reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $233.55 million for the quarter, compared to analyst estimates of $226.63 million. Haemonetics had a return on equity of 12.71% and a net margin of 5.04%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share.

A number of research firms recently commented on HAE. TheStreet raised Haemonetics from a “c+” rating to a “b” rating in a research note on Tuesday, May 8th. Jefferies Group increased their price objective on Haemonetics to $95.00 and gave the company a “buy” rating in a research note on Wednesday, May 9th. Morgan Stanley increased their price objective on Haemonetics from $77.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 9th. Barrington Research increased their price objective on Haemonetics to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, May 9th. Finally, Zacks Investment Research raised Haemonetics from a “sell” rating to a “hold” rating in a research note on Friday, May 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $80.83.

Shares of HAE traded down $0.66 during trading hours on Wednesday, reaching $88.91. 433,094 shares of the company traded hands, compared to its average volume of 579,199. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.08. The firm has a market cap of $4.79 billion, a P/E ratio of 48.16, a PEG ratio of 4.05 and a beta of 0.90. Haemonetics has a fifty-two week low of $38.47 and a fifty-two week high of $90.22.

Haemonetics announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 6th that allows the company to repurchase $260.00 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other Haemonetics news, EVP Michelle L. Basil sold 389 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $72.23, for a total value of $28,097.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dan Goldstein sold 518 shares of the firm’s stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $54.65, for a total value of $28,308.70. Following the completion of the sale, the vice president now directly owns 4,002 shares in the company, valued at $218,709.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,021 shares of company stock worth $64,640. 1.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of HAE. Millennium Management LLC boosted its stake in Haemonetics by 1,765.9% in the 1st quarter. Millennium Management LLC now owns 1,183,544 shares of the medical instruments supplier’s stock worth $86,588,000 after buying an additional 1,120,115 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Haemonetics by 287.6% in the 1st quarter. JPMorgan Chase & Co. now owns 540,630 shares of the medical instruments supplier’s stock valued at $39,552,000 after purchasing an additional 401,164 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Haemonetics by 100.8% in the 4th quarter. Acadian Asset Management LLC now owns 524,768 shares of the medical instruments supplier’s stock valued at $30,479,000 after purchasing an additional 263,432 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Haemonetics by 3.8% in the 1st quarter. BlackRock Inc. now owns 6,924,926 shares of the medical instruments supplier’s stock valued at $506,627,000 after purchasing an additional 253,938 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Haemonetics by 1,861.0% in the 4th quarter. Two Sigma Investments LP now owns 244,023 shares of the medical instruments supplier’s stock valued at $14,173,000 after purchasing an additional 231,579 shares in the last quarter. 97.89% of the stock is currently owned by hedge funds and other institutional investors.

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 plasma collection and storage products, including PCS brand plasma collection 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; Multicomponent Collection System brand apheresis equipment to collect specific blood components integrated from the donor; Automated Cell Processor brand solution to automate the washing and freezing of red cell components; and whole blood collection and processing products.

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