Haemonetics Co. (NYSE:HAE) – Equities researchers at Jefferies Group issued their Q1 2019 earnings per share (EPS) estimates for shares of Haemonetics in a note issued to investors on Wednesday. Jefferies Group analyst A. Petrone forecasts that the medical instruments supplier will post earnings of $0.46 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for Haemonetics’ Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $2.20 EPS, FY2020 earnings at $2.95 EPS, FY2021 earnings at $3.95 EPS and FY2022 earnings at $4.50 EPS.
Several other equities analysts have also weighed in on HAE. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, October 25th. Barrington Research increased their price objective on shares of Haemonetics from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Craig Hallum restated a “hold” rating and issued a $50.00 price objective (up from $40.00) on shares of Haemonetics in a report on Wednesday, November 8th. Morgan Stanley increased their price objective on shares of Haemonetics from $43.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Finally, Raymond James Financial upgraded shares of Haemonetics from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $71.33.
Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The business had revenue of $234.04 million for the quarter, compared to analyst estimates of $227.79 million. During the same period in the prior year, the business posted $0.43 earnings per share. Haemonetics’s revenue was up 2.7% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. raised its holdings in Haemonetics by 1.8% in the fourth quarter. American International Group Inc. now owns 42,271 shares of the medical instruments supplier’s stock worth $2,455,000 after purchasing an additional 743 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Haemonetics during the fourth quarter worth $7,948,000. UBS Asset Management Americas Inc. raised its holdings in shares of Haemonetics by 14.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 34,389 shares of the medical instruments supplier’s stock worth $1,997,000 after acquiring an additional 4,300 shares during the period. BlackRock Inc. raised its holdings in shares of Haemonetics by 3.5% during the fourth quarter. BlackRock Inc. now owns 6,670,988 shares of the medical instruments supplier’s stock worth $387,452,000 after acquiring an additional 225,160 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Haemonetics by 17.4% during the fourth quarter. Rhumbline Advisers now owns 122,859 shares of the medical instruments supplier’s stock worth $7,136,000 after acquiring an additional 18,190 shares during the period.
In other Haemonetics news, Director Mark W. Kroll sold 7,118 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $63.00, for a total value of $448,434.00. Following the sale, the director now directly owns 33,881 shares in the company, valued at $2,134,503. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Dan Goldstein sold 4,691 shares of the stock in a transaction 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 in the company, valued at $205,822.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,560 shares of company stock worth $2,133,607. Company insiders own 1.20% of the company’s stock.
Haemonetics announced that its Board of Directors has approved a share repurchase program on Tuesday, February 6th that authorizes the company to buyback $260.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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.
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