Haemonetics Corporation (HAE) Expected to Post Earnings of $0.31 Per Share
Wall Street analysts expect Haemonetics Corporation (NYSE:HAE) to report $0.31 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Haemonetics Corporation’s earnings, with estimates ranging from $0.25 to $0.37. Haemonetics Corporation reported earnings of $0.25 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 24%. The firm is expected to issue its next earnings results before the market opens on Monday, August 7th.
According to Zacks, analysts expect that Haemonetics Corporation will report full year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.53 to $1.62. For the next year, analysts forecast that the business will post earnings of $1.70 per share, with EPS estimates ranging from $1.60 to $1.90. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Haemonetics Corporation.
Haemonetics Corporation (NYSE:HAE) last released its quarterly earnings results on Monday, May 8th. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Haemonetics Corporation had a negative net margin of 2.96% and a positive return on equity of 10.66%. The company had revenue of $228.10 million during the quarter, compared to the consensus estimate of $215.06 million. During the same period in the prior year, the firm earned $0.37 earnings per share. Haemonetics Corporation’s revenue was down 5.9% on a year-over-year basis.
Several equities research analysts recently issued reports on HAE shares. BidaskClub cut shares of Haemonetics Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research cut shares of Haemonetics Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. TheStreet upgraded shares of Haemonetics Corporation from a “c” rating to a “b-” rating in a research report on Thursday, April 13th. Jefferies Group LLC restated a “buy” rating and set a $42.00 price objective on shares of Haemonetics Corporation in a research report on Monday, May 8th. Finally, JMP Securities upgraded shares of Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $38.71.
Haemonetics Corporation (HAE) traded up 0.94% during trading on Thursday, reaching $40.76. 229,966 shares of the company were exchanged. Haemonetics Corporation has a 1-year low of $32.76 and a 1-year high of $43.62. The company’s 50-day moving average price is $39.97 and its 200-day moving average price is $40.06. The stock’s market capitalization is $2.14 billion.
In other Haemonetics Corporation news, Director Ronald Merriman sold 17,471 shares of Haemonetics Corporation stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $40.33, for a total transaction of $704,605.43. Following the completion of the sale, the director now directly owns 24,925 shares in the company, valued at $1,005,225.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Haemonetics Corporation by 48,854.9% in the first quarter. BlackRock Inc. now owns 6,289,728 shares of the medical instruments supplier’s stock valued at $255,175,000 after buying an additional 6,276,880 shares during the last quarter. Wellington Management Group LLP increased its position in Haemonetics Corporation by 22.6% in the first quarter. Wellington Management Group LLP now owns 4,192,350 shares of the medical instruments supplier’s stock valued at $170,084,000 after buying an additional 774,089 shares during the last quarter. Columbia Wanger Asset Management LLC purchased a new position in Haemonetics Corporation during the first quarter valued at approximately $23,786,000. Norges Bank purchased a new position in Haemonetics Corporation during the fourth quarter valued at approximately $20,512,000. Finally, Vanguard Group Inc. increased its position in Haemonetics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 4,694,325 shares of the medical instruments supplier’s stock valued at $190,449,000 after buying an additional 332,087 shares during the last quarter.
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Haemonetics Corporation 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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