FY2018 EPS Estimates for Haemonetics Co. Lifted by Analyst (HAE)
Haemonetics Co. (NYSE:HAE) – Equities researchers at Jefferies Group raised their FY2018 EPS estimates for shares of Haemonetics in a research report issued to clients and investors on Wednesday. Jefferies Group analyst A. Petrone now anticipates that the medical instruments supplier will post earnings of $1.87 per share for the year, up from their previous estimate of $1.66. Jefferies Group currently has a “Buy” rating and a $80.00 target price on the stock. Jefferies Group also issued estimates for Haemonetics’ Q4 2018 earnings at $0.43 EPS.
Several other equities analysts also recently commented on HAE. Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, October 25th. Barrington Research raised their target price on Haemonetics from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Craig Hallum reiterated a “hold” rating and issued a $50.00 price objective (up previously from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Morgan Stanley lifted their price objective on Haemonetics from $43.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Finally, Raymond James Financial upgraded Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $71.33.
Haemonetics (NYSE:HAE) last posted its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The business had revenue of $234.04 million during the quarter, compared to the consensus estimate of $227.79 million. Haemonetics had a positive return on equity of 12.39% and a negative net margin of 1.94%. Haemonetics’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS.
A number of institutional investors and hedge funds have recently modified their holdings of HAE. Victory Capital Management Inc. raised its position in shares of Haemonetics by 18.7% during the third quarter. Victory Capital Management Inc. now owns 2,414,526 shares of the medical instruments supplier’s stock worth $108,340,000 after acquiring an additional 381,012 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Haemonetics by 100.8% during the fourth quarter. Acadian Asset Management LLC now owns 524,768 shares of the medical instruments supplier’s stock worth $30,479,000 after acquiring an additional 263,432 shares during the last quarter. BlackRock Inc. raised its position in shares of Haemonetics by 3.5% during the fourth quarter. BlackRock Inc. now owns 6,670,988 shares of the medical instruments supplier’s stock worth $387,452,000 after acquiring an additional 225,160 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Haemonetics by 10.2% during the third quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock worth $92,139,000 after acquiring an additional 189,797 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Haemonetics during the second quarter worth $6,115,000.
In other Haemonetics news, CAO Dan Goldstein sold 4,691 shares of Haemonetics stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.93, for a total value of $257,676.63. Following the completion of the transaction, the chief accounting officer now owns 3,747 shares in the company, valued at approximately $205,822.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willaim P. Burke sold 13,193 shares of Haemonetics stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $54.04, for a total value of $712,949.72. Following the completion of the transaction, the chief financial officer now owns 27,227 shares of the company’s stock, valued at approximately $1,471,347.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,560 shares of company stock valued at $2,133,607. Corporate insiders own 1.20% of the company’s stock.
Haemonetics announced that its board has authorized a share repurchase program on Tuesday, February 6th that permits the company to buyback $260.00 million in shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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