Haemonetics (HAE) Expected to Post Quarterly Sales of $219.52 Million

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Equities analysts expect Haemonetics (NYSE:HAE) to post $219.52 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Haemonetics’ earnings, with the highest sales estimate coming in at $221.62 million and the lowest estimate coming in at $216.20 million. Haemonetics posted sales of $210.95 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The firm is scheduled to issue its next earnings report on Monday, August 6th.

On average, 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 financial 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 averages are a mean average based on a survey of research firms that that provide coverage for Haemonetics.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Tuesday, May 8th. The medical instruments supplier reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Haemonetics had a net margin of 5.04% and a return on equity of 12.71%. The business had revenue of $233.55 million during the quarter, compared to the consensus estimate of $226.63 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue was up 2.4% on a year-over-year basis.

HAE has been the subject of several research reports. Jefferies Group reissued a “buy” rating and set a $80.00 price objective on shares of Haemonetics in a report on Wednesday, February 7th. JMP Securities restated an “outperform” rating and set a $72.00 target price on shares of Haemonetics in a research report on Wednesday, February 7th. Barrington Research restated an “outperform” rating and set a $71.00 target price (up from $57.00) on shares of Haemonetics in a research report on Wednesday, February 7th. Morgan Stanley upped their target price on shares of Haemonetics from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Haemonetics currently has an average rating of “Buy” and a consensus target price of $80.83.

In other news, CEO Christopher Simon sold 3,595 shares of the company’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $40.39, for a total transaction of $145,202.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Dan Goldstein sold 518 shares of the company’s stock in a transaction dated Friday, April 6th. The shares were sold at an average price of $54.65, for a total transaction of $28,308.70. Following the sale, the vice president now owns 4,002 shares in the company, valued at $218,709.30. The disclosure for this sale can be found here. Insiders have sold a total of 5,572 shares of company stock worth $237,311 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HAE. Goldman Sachs Group Inc. raised its position in Haemonetics by 23.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 158,486 shares of the medical instruments supplier’s stock worth $9,205,000 after purchasing an additional 30,240 shares during the period. American International Group Inc. raised its position in Haemonetics by 1.8% in the 4th quarter. American International Group Inc. now owns 42,271 shares of the medical instruments supplier’s stock worth $2,455,000 after purchasing an additional 743 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Haemonetics by 16.7% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 23,100 shares of the medical instruments supplier’s stock worth $1,341,000 after purchasing an additional 3,300 shares during the period. WINTON GROUP Ltd purchased a new stake in Haemonetics in the 4th quarter worth about $6,257,000. Finally, BlackRock Inc. raised its position in Haemonetics by 3.5% in the 4th quarter. BlackRock Inc. now owns 6,670,988 shares of the medical instruments supplier’s stock worth $387,452,000 after purchasing an additional 225,160 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Shares of Haemonetics traded down $2.89, hitting $92.79, during midday trading on Friday, according to Marketbeat.com. 897,700 shares of the company traded hands, compared to its average volume of 487,636. Haemonetics has a 52 week low of $38.47 and a 52 week high of $96.32. The company has a market capitalization of $4.98 billion, a PE ratio of 51.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.93. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.08.

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 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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Earnings History and Estimates for Haemonetics (NYSE:HAE)

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