Haemonetics Co. Expected to Earn FY2018 Earnings of $1.85 Per Share (HAE)

Haemonetics Co. (NYSE:HAE) – Equities research analysts at Barrington Research increased their FY2018 earnings per share estimates for shares of Haemonetics in a research note issued on Wednesday. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will post earnings of $1.85 per share for the year, up from their prior forecast of $1.68. Barrington Research has a “Outperform” rating and a $71.00 price target on the stock. Barrington Research also issued estimates for Haemonetics’ Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.54 EPS and Q4 2019 earnings at $0.49 EPS.

A number of other analysts have also recently weighed in on HAE. Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, October 25th. Craig Hallum reiterated a “hold” rating and issued a $50.00 price target (up from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Morgan Stanley upped their price target on Haemonetics from $43.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Raymond James Financial upgraded Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Finally, Jefferies Group upped their price target on Haemonetics from $18.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $71.33.

Shares of Haemonetics (HAE) traded up $0.14 during trading hours on Thursday, reaching $69.01. The company’s stock had a trading volume of 446,144 shares, compared to its average volume of 474,052. Haemonetics has a 52-week low of $37.07 and a 52-week high of $72.33. The company has a market capitalization of $3,726.90, a PE ratio of -202.55, a price-to-earnings-growth ratio of 4.77 and a beta of 1.06. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.14.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The business had revenue of $234.04 million for the quarter, compared to analysts’ expectations of $227.79 million. Haemonetics had a positive return on equity of 12.39% and a negative net margin of 1.94%. Haemonetics’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share.

Haemonetics declared that its board has approved a share repurchase program on Tuesday, February 6th that allows the company to repurchase $260.00 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In other Haemonetics news, Director Ronald G. Gelbman sold 5,440 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $56.69, for a total value of $308,393.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Dan Goldstein sold 4,691 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.93, for a total value of $257,676.63. Following the completion of the transaction, the chief accounting officer now directly owns 3,747 shares in the company, valued at approximately $205,822.71. The disclosure for this sale can be found here. Insiders sold 37,560 shares of company stock worth $2,133,607 over the last quarter. Company insiders own 1.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Haemonetics by 1.0% in the second quarter. Vanguard Group Inc. now owns 4,743,044 shares of the medical instruments supplier’s stock worth $187,303,000 after purchasing an additional 48,719 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Haemonetics by 0.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,428,236 shares of the medical instruments supplier’s stock worth $141,032,000 after purchasing an additional 13,710 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Haemonetics by 10.2% in the third quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock worth $92,139,000 after purchasing an additional 189,797 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Haemonetics by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,739,734 shares of the medical instruments supplier’s stock worth $68,702,000 after purchasing an additional 40,381 shares in the last quarter. Finally, State Street Corp boosted its stake in Haemonetics by 5.0% in the second quarter. State Street Corp now owns 1,330,994 shares of the medical instruments supplier’s stock worth $52,562,000 after purchasing an additional 62,887 shares in the last quarter.

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Haemonetics Company Profile

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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