$249.32 Million in Sales Expected for Haemonetics Co. (NYSE:HAE) This Quarter

Wall Street analysts expect Haemonetics Co. (NYSE:HAE) to report sales of $249.32 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Haemonetics’ earnings, with the highest sales estimate coming in at $251.47 million and the lowest estimate coming in at $248.10 million. Haemonetics posted sales of $241.58 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Haemonetics will report full-year sales of $1.01 billion for the current fiscal year, with estimates ranging from $1.00 billion to $1.01 billion. For the next year, analysts expect that the business will post sales of $1.09 billion, with estimates ranging from $1.05 billion to $1.12 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Haemonetics.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.18. Haemonetics had a net margin of 5.05% and a return on equity of 21.07%. The firm had revenue of $238.50 million for the quarter, compared to analysts’ expectations of $236.82 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year.

A number of research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Haemonetics from $128.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JMP Securities upped their price target on shares of Haemonetics to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barrington Research reaffirmed an “outperform” rating and set a $139.00 price target (up previously from $116.00) on shares of Haemonetics in a research report on Wednesday, August 7th. TheStreet raised shares of Haemonetics from a “c+” rating to a “b-” rating in a research report on Tuesday, May 7th. Finally, Jefferies Financial Group upped their price target on shares of Haemonetics from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Haemonetics presently has an average rating of “Buy” and an average price target of $140.67.

HAE stock traded down $1.93 during trading on Wednesday, hitting $136.59. The company had a trading volume of 421,400 shares, compared to its average volume of 462,067. The company has a quick ratio of 1.34, a current ratio of 2.10 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $6.91 billion, a P/E ratio of 57.15, a PEG ratio of 3.33 and a beta of 0.82. The company has a 50 day simple moving average of $125.56 and a 200-day simple moving average of $101.93. Haemonetics has a 52-week low of $80.24 and a 52-week high of $140.36.

In other news, VP Dan Goldstein sold 1,107 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $103.25, for a total value of $114,297.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Simon sold 24,412 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $99.39, for a total value of $2,426,308.68. The disclosure for this sale can be found here. In the last three months, insiders sold 48,830 shares of company stock valued at $5,153,165. 1.32% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Haemonetics by 5.9% during the first quarter. BlackRock Inc. now owns 6,385,237 shares of the medical instruments supplier’s stock valued at $558,580,000 after purchasing an additional 358,431 shares in the last quarter. Renaissance Technologies LLC increased its stake in Haemonetics by 4.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,484,400 shares of the medical instruments supplier’s stock worth $298,973,000 after acquiring an additional 108,700 shares during the last quarter. Jackson Square Partners LLC increased its stake in Haemonetics by 12.8% in the 1st quarter. Jackson Square Partners LLC now owns 1,655,676 shares of the medical instruments supplier’s stock worth $144,838,000 after acquiring an additional 187,950 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Haemonetics by 14.2% in the 1st quarter. Neuberger Berman Group LLC now owns 1,625,242 shares of the medical instruments supplier’s stock worth $142,176,000 after acquiring an additional 202,406 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Haemonetics by 17.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,125,267 shares of the medical instruments supplier’s stock worth $135,416,000 after acquiring an additional 165,586 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

About Haemonetics

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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