$249.97 Million in Sales Expected for Haemonetics Co. (HAE) This Quarter

Wall Street brokerages expect Haemonetics Co. (NYSE:HAE) to post sales of $249.97 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Haemonetics’ earnings. The lowest sales estimate is $249.10 million and the highest is $251.60 million. Haemonetics posted sales of $233.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 7%. The firm is expected to announce its next quarterly earnings results 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 fiscal year, analysts forecast that the company will post sales of $1.04 billion, with estimates ranging from $1.03 billion to $1.06 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Haemonetics.

Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, February 5th. The medical instruments supplier reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $247.36 million during the quarter, compared to analysts’ expectations of $250.12 million. Haemonetics had a net margin of 4.84% and a return on equity of 17.05%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Haemonetics from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Barrington Research boosted their target price on shares of Haemonetics to $112.00 and gave the company a “positive” rating in a research report on Wednesday, February 6th. Finally, ValuEngine downgraded shares of Haemonetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $119.75.

HAE traded up $0.64 during trading on Thursday, reaching $87.94. 327,886 shares of the company’s stock were exchanged, compared to its average volume of 456,943. 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 current ratio of 2.44 and a quick ratio of 1.64. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 2.85 and a beta of 0.89.

In other news, Director Ronald G. Gelbman sold 8,196 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $86.52, for a total value of $709,117.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jacqueline Scanlan sold 1,027 shares of the stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $104.22, for a total transaction of $107,033.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,926 shares of company stock worth $1,701,562. Corporate insiders own 1.04% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Haemonetics in the fourth quarter valued at approximately $80,411,000. American Century Companies Inc. boosted its holdings in 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 valued at $115,243,000 after acquiring an additional 701,976 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Haemonetics in the third quarter valued at $52,658,000. Carillon Tower Advisers Inc. bought a new stake in Haemonetics in the third quarter valued at $48,597,000. Finally, Westfield Capital Management Co. LP boosted its holdings in Haemonetics by 144.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 709,952 shares of the medical instruments supplier’s stock valued at $71,031,000 after acquiring an additional 419,359 shares in the last quarter. Institutional investors own 98.46% of the company’s stock.

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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