Haemonetics Corporation (HAE) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Haemonetics Corporation (NYSE:HAE) posted its earnings results on Monday. The medical instruments supplier reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02, MarketWatch Earnings reports. Haemonetics Corporation had a positive return on equity of 10.66% and a negative net margin of 2.96%. The firm had revenue of $211 million during the quarter, compared to analyst estimates of $211.29 million. During the same period in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis.
Haemonetics Corporation (HAE) opened at 41.19 on Monday. Haemonetics Corporation has a 12 month low of $32.76 and a 12 month high of $43.62. The firm has a 50-day moving average price of $39.97 and a 200 day moving average price of $40.06. The company’s market capitalization is $2.16 billion.
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In other news, Director Ronald Merriman sold 17,471 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $40.33, for a total value of $704,605.43. Following the completion of the sale, the director now directly owns 24,925 shares of the company’s stock, valued at $1,005,225.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. purchased a new stake in Haemonetics Corporation during the second quarter valued at $132,000. Ameritas Investment Partners Inc. purchased a new stake in Haemonetics Corporation during the first quarter valued at $179,000. State of Alaska Department of Revenue boosted its stake in Haemonetics Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 5,740 shares of the medical instruments supplier’s stock valued at $232,000 after buying an additional 130 shares during the last quarter. AXA purchased a new stake in Haemonetics Corporation during the first quarter valued at $292,000. Finally, Kirr Marbach & Co. LLC IN boosted its stake in Haemonetics Corporation by 1.1% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,230 shares of the medical instruments supplier’s stock valued at $293,000 after buying an additional 80 shares during the last quarter.
Several research firms recently weighed in on HAE. Jefferies Group LLC restated a “buy” rating and issued a $48.00 target price on shares of Haemonetics Corporation in a report on Thursday, July 27th. BidaskClub downgraded Haemonetics Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. JMP Securities raised Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Thursday, July 13th. Zacks Investment Research raised Haemonetics Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, TheStreet downgraded Haemonetics Corporation from a “b-” rating to a “c” rating in a research report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Haemonetics Corporation presently has an average rating of “Hold” and an average price target of $38.71.
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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