Haemonetics (HAE) Issues FY19 Earnings Guidance

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Haemonetics (NYSE:HAE) updated its FY19 earnings guidance on Tuesday. The company provided EPS guidance of $2.25-2.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.29. The company issued revenue guidance of $958.2-$976.2 million, compared to the consensus revenue estimate of $951.91 million.Haemonetics also updated its FY 2018 guidance to $2.25-2.35 EPS.

Several analysts recently weighed in on the stock. Jefferies Financial Group reiterated a buy rating and issued a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 7th. Morgan Stanley lifted their target price on shares of Haemonetics from $100.00 to $120.00 and gave the company an overweight rating in a report on Wednesday, August 8th. Barrington Research lifted their target price on shares of Haemonetics from $90.00 to $118.00 and gave the company an outperform rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of Haemonetics from a hold rating to a strong-buy rating and set a $122.00 target price for the company in a report on Friday, October 12th. Finally, TheStreet downgraded shares of Haemonetics from a b rating to a c+ rating in a report on Monday, August 20th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $102.67.

Haemonetics stock traded up $6.32 during trading on Wednesday, hitting $115.13. The company had a trading volume of 76,580 shares, compared to its average volume of 465,414. Haemonetics has a 1-year low of $48.21 and a 1-year high of $117.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.94 and a current ratio of 2.84. The company has a market capitalization of $5.45 billion, a PE ratio of 61.57, a price-to-earnings-growth ratio of 3.42 and a beta of 1.09.

Haemonetics (NYSE:HAE) last posted its earnings results on Tuesday, November 6th. The medical instruments supplier reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Haemonetics had a net margin of 2.45% and a return on equity of 15.00%. The firm had revenue of $241.58 million during the quarter, compared to the consensus estimate of $233.44 million. During the same quarter last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Haemonetics will post 2.28 earnings per share for the current year.

In other Haemonetics news, SVP Jacqueline Scanlan sold 4,890 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $112.19, for a total value of $548,609.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William P. Mr. Burke sold 841 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $46.76, for a total transaction of $39,325.16. The disclosure for this sale can be found here. Insiders sold a total of 37,275 shares of company stock valued at $4,069,830 in the last three months. 1.04% of the stock is currently owned by corporate insiders.

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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.

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Earnings History and Estimates for Haemonetics (NYSE:HAE)

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