Haemonetics Co. (HAE) Expected to Post Quarterly Sales of $249.97 Million

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Wall Street brokerages expect Haemonetics Co. (NYSE:HAE) to announce $249.97 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Haemonetics’ earnings, with the highest sales estimate coming in at $251.60 million and the lowest estimate coming in at $249.10 million. Haemonetics reported sales of $233.55 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The firm is scheduled to issue its next earnings report on Tuesday, May 14th.

On average, analysts expect that Haemonetics will report full year sales of $968.67 million for the current financial year, with estimates ranging from $965.75 million to $974.43 million. For the next year, analysts anticipate that the company will post sales of $1.04 billion, with estimates ranging from $1.03 billion to $1.06 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Haemonetics.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Tuesday, February 5th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Haemonetics had a return on equity of 17.05% and a net margin of 4.84%. The business had revenue of $247.36 million during the quarter, compared to analyst estimates of $250.12 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. Haemonetics’s revenue for the quarter was up 5.7% on a year-over-year basis.

HAE has been the subject of several recent research reports. Zacks Investment Research lowered Haemonetics from a “buy” rating to a “sell” rating in a report on Tuesday, January 8th. ValuEngine lowered Haemonetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 5th. Finally, Barrington Research boosted their price target on Haemonetics to $112.00 and gave the company a “positive” rating in a report on Wednesday, February 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Haemonetics presently has an average rating of “Buy” and a consensus price target of $119.75.

NYSE:HAE traded down $0.55 during mid-day trading on Thursday, hitting $86.75. 377,900 shares of the company traded hands, compared to its average volume of 456,746. Haemonetics has a one year low of $70.86 and a one year high of $117.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.64 and a current ratio of 2.44. The firm has a market capitalization of $4.43 billion, a PE ratio of 46.39, a P/E/G ratio of 2.80 and a beta of 0.89.

In other news, Director Ronald G. Gelbman sold 8,196 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $86.52, for a total value of $709,117.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michelle L. Basil sold 391 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $83.57, for a total value of $32,675.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,899 shares of company stock valued at $1,594,528. Corporate insiders own 1.04% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAE. Bank of New York Mellon Corp boosted its stake in shares of Haemonetics by 18.4% in the second quarter. Bank of New York Mellon Corp now owns 785,681 shares of the medical instruments supplier’s stock worth $70,460,000 after acquiring an additional 122,168 shares during the period. Aperio Group LLC lifted its position in shares of Haemonetics by 47.0% in the third quarter. Aperio Group LLC now owns 17,446 shares of the medical instruments supplier’s stock worth $1,999,000 after buying an additional 5,579 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Haemonetics in the third quarter worth about $219,000. American Century Companies Inc. lifted its position in shares of Haemonetics by 231.1% in the third quarter. American Century Companies Inc. now owns 1,005,784 shares of the medical instruments supplier’s stock worth $115,243,000 after buying an additional 701,976 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Haemonetics in the third quarter worth about $1,730,000. 98.13% of the stock is owned by hedge funds and other institutional investors.

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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