Haemonetics Co. (NYSE:HAE) Expected to Announce Quarterly Sales of $202.15 Million

Equities research analysts expect Haemonetics Co. (NYSE:HAE) to post sales of $202.15 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Haemonetics’ earnings, with estimates ranging from $199.86 million to $205.28 million. Haemonetics reported sales of $252.57 million during the same quarter last year, which indicates a negative year over year growth rate of 20%. The firm is scheduled to issue its next quarterly earnings report on Friday, November 6th.

On average, analysts expect that Haemonetics will report full year sales of $861.97 million for the current year, with estimates ranging from $825.76 million to $882.71 million. For the next financial year, analysts expect that the firm will report sales of $982.89 million, with estimates ranging from $896.83 million to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Haemonetics.

Haemonetics (NYSE:HAE) last released its earnings results on Tuesday, August 4th. The medical instruments supplier reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. Haemonetics had a net margin of 10.10% and a return on equity of 25.98%. The firm had revenue of $195.60 million during the quarter, compared to analyst estimates of $198.27 million. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year.

Several equities analysts have recently commented on HAE shares. Barrington Research reaffirmed a “hold” rating on shares of Haemonetics in a report on Tuesday, September 15th. Needham & Company LLC restated a “buy” rating and set a $119.00 price objective on shares of Haemonetics in a research note on Tuesday, August 4th. Raymond James boosted their price target on shares of Haemonetics from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, September 8th. Finally, Morgan Stanley dropped their price objective on shares of Haemonetics from $138.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $117.50.

Several large investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its stake in shares of Haemonetics by 7.7% during the second quarter. Advisor Group Holdings Inc. now owns 1,972 shares of the medical instruments supplier’s stock valued at $178,000 after purchasing an additional 141 shares in the last quarter. Renaissance Group LLC raised its position in shares of Haemonetics by 3.1% during the 2nd quarter. Renaissance Group LLC now owns 6,857 shares of the medical instruments supplier’s stock worth $614,000 after buying an additional 203 shares in the last quarter. CSat Investment Advisory L.P. raised its position in shares of Haemonetics by 187.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 322 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 210 shares in the last quarter. Private Capital Group LLC lifted its stake in shares of Haemonetics by 62.5% in the 2nd quarter. Private Capital Group LLC now owns 559 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 215 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Haemonetics by 39.9% in the first quarter. Meeder Asset Management Inc. now owns 981 shares of the medical instruments supplier’s stock valued at $98,000 after acquiring an additional 280 shares in the last quarter. 96.33% of the stock is owned by institutional investors.

HAE traded up $1.50 on Monday, hitting $88.75. 293,715 shares of the company’s stock were exchanged, compared to its average volume of 591,355. The company has a current ratio of 1.86, a quick ratio of 1.14 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $87.08 and a two-hundred day moving average of $94.00. Haemonetics has a twelve month low of $63.41 and a twelve month high of $130.75. The firm has a market cap of $4.42 billion, a PE ratio of 47.97, a P/E/G ratio of 3.71 and a beta of 0.60.

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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