Haemonetics (HAE) Updates FY 2018 Earnings Guidance

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Haemonetics (NYSE:HAE) updated its FY 2018 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.25-2.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.29. The company issued revenue guidance of $958.158-976.237 million, compared to the consensus revenue estimate of $951.9 million.Haemonetics also updated its FY19 guidance to $2.25-2.35 EPS.

A number of analysts have recently issued reports on the stock. 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 research note on Friday, October 12th. Barrington Research restated a buy rating and set a $127.00 target price on shares of Haemonetics in a research note on Friday, October 5th. TheStreet cut shares of Haemonetics from a b rating to a c+ rating in a research note on Monday, August 20th. Morgan Stanley raised their target price on shares of Haemonetics from $100.00 to $120.00 and gave the stock an overweight rating in a research note on Wednesday, August 8th. Finally, Jefferies Financial Group restated a buy rating and set a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Haemonetics currently has an average rating of Buy and an average target price of $102.67.

Haemonetics stock traded up $6.25 during midday trading on Wednesday, hitting $115.07. The company’s stock had a trading volume of 495,184 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 quick ratio of 1.94, a current ratio of 2.84 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 61.53, a price-to-earnings-growth ratio of 3.42 and a beta of 1.09.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Tuesday, November 6th. The medical instruments supplier reported $0.56 earnings per share for the quarter, topping the 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 business had revenue of $241.58 million during the quarter, compared to analysts’ expectations of $233.44 million. During the same quarter in the previous year, the company earned $0.48 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Haemonetics will post 2.28 earnings per share for the current fiscal year.

In other news, Director Pedro P. Granadillo sold 30,824 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $111.83, for a total value of $3,447,047.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William P. Mr. Burke sold 841 shares of the business’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 quarter. Corporate insiders own 1.04% of the company’s stock.

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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 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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