Haemonetics Corporation (HAE) Expected to Announce Quarterly Sales of $219.67 Million
Equities analysts expect that Haemonetics Corporation (NYSE:HAE) will post $219.67 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Haemonetics Corporation’s earnings, with the lowest sales estimate coming in at $216.91 million and the highest estimate coming in at $224.09 million. Haemonetics Corporation posted sales of $220.25 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.3%. The company is scheduled to announce its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Haemonetics Corporation will report full-year sales of $219.67 million for the current year, with estimates ranging from $884.60 million to $896.99 million. For the next year, analysts anticipate that the firm will post sales of $925.61 million per share, with estimates ranging from $906.40 million to $945.11 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Haemonetics Corporation.
Haemonetics Corporation (NYSE:HAE) last announced its quarterly earnings results on Monday, August 7th. The medical instruments supplier reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $211.00 million during the quarter, compared to the consensus estimate of $211.29 million. Haemonetics Corporation had a return on equity of 11.07% and a net margin of 0.48%. Haemonetics Corporation’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS.
HAE has been the subject of several recent analyst reports. BidaskClub downgraded Haemonetics Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded Haemonetics Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. JMP Securities upgraded Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Haemonetics Corporation in a research note on Thursday, July 27th. Finally, Barrington Research upgraded Haemonetics Corporation from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Haemonetics Corporation presently has an average rating of “Hold” and a consensus target price of $40.71.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings 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 worth $255,175,000 after acquiring an additional 6,276,880 shares during the last quarter. Wellington Management Group LLP lifted its holdings 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 worth $170,084,000 after acquiring an additional 774,089 shares during the last quarter. Columbia Wanger Asset Management LLC bought a new position in Haemonetics Corporation in the first quarter worth about $23,786,000. Vanguard Group Inc. lifted its holdings 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 worth $190,449,000 after acquiring an additional 332,087 shares during the last quarter. Finally, Black Creek Investment Management Inc. lifted its holdings in Haemonetics Corporation by 24.8% in the first quarter. Black Creek Investment Management Inc. now owns 1,396,483 shares of the medical instruments supplier’s stock worth $56,655,000 after acquiring an additional 277,870 shares during the last quarter.
Shares of Haemonetics Corporation (HAE) traded down 1.48% during mid-day trading on Monday, reaching $42.50. The company’s stock had a trading volume of 142,290 shares. The firm has a 50-day moving average of $42.06 and a 200-day moving average of $40.79. Haemonetics Corporation has a 52 week low of $32.76 and a 52 week high of $43.77. The firm has a market capitalization of $2.24 billion, a PE ratio of 551.95 and a beta of 0.89.
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About Haemonetics Corporation
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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