Haemonetics Corporation (HAE) to Post Q3 2018 Earnings of $0.45 Per Share, Jefferies Group Forecasts

Haemonetics Corporation (NYSE:HAE) – Stock analysts at Jefferies Group lowered their Q3 2018 earnings per share (EPS) estimates for shares of Haemonetics in a research note issued to investors on Monday. Jefferies Group analyst A. Petrone now anticipates that the medical instruments supplier will earn $0.45 per share for the quarter, down from their prior estimate of $0.46. Jefferies Group currently has a “Buy” rating and a $75.00 target price on the stock. Jefferies Group also issued estimates for Haemonetics’ Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.66 EPS, FY2020 earnings at $2.80 EPS, FY2021 earnings at $3.75 EPS and FY2022 earnings at $4.35 EPS.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Haemonetics had a net margin of 0.50% and a return on equity of 11.16%. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $219.12 million. During the same period last year, the business earned $0.38 earnings per share. Haemonetics’s revenue was up 2.3% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price (up from $38.00) on shares of Haemonetics in a research report on Friday, October 6th. Craig Hallum reiterated a “hold” rating and set a $50.00 target price (up from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Raymond James Financial upgraded shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Finally, Barrington Research lifted their target price on shares of Haemonetics from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $58.83.

Haemonetics (NYSE:HAE) traded up $0.76 during mid-day trading on Wednesday, hitting $63.39. 426,800 shares of the stock were exchanged, compared to its average volume of 577,950. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.17 and a quick ratio of 1.51. Haemonetics has a one year low of $36.44 and a one year high of $63.90. The company has a market capitalization of $3,350.00, a price-to-earnings ratio of 905.57, a P/E/G ratio of 4.71 and a beta of 0.99.

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC lifted its holdings in shares of Haemonetics by 79.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,407 shares of the medical instruments supplier’s stock worth $135,000 after acquiring an additional 1,507 shares during the last quarter. Pacad Investment Ltd. bought a new stake in shares of Haemonetics in the 2nd quarter worth approximately $174,000. Shelton Capital Management bought a new stake in shares of Haemonetics in the 2nd quarter worth approximately $204,000. Cubist Systematic Strategies LLC bought a new stake in shares of Haemonetics in the 2nd quarter worth approximately $260,000. Finally, SG Americas Securities LLC bought a new stake in shares of Haemonetics in the 3rd quarter worth approximately $316,000.

In other news, Director Susan Bartlett Foote sold 16,926 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $54.19, for a total value of $917,219.94. Following the completion of the sale, the director now directly owns 27,313 shares in the company, valued at approximately $1,480,091.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Dan Goldstein sold 4,691 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.93, for a total transaction of $257,676.63. Following the completion of the sale, the chief accounting officer now owns 3,747 shares of the company’s stock, valued at $205,822.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,486 shares of company stock valued at $3,050,827. 1.20% of the stock is currently owned by company insiders.

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About Haemonetics

Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.

Earnings History and Estimates for Haemonetics (NYSE:HAE)

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