Haemonetics (NYSE:HAE) Releases Earnings Results

Haemonetics (NYSE:HAE) announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.18, Briefing.com reports. Haemonetics had a return on equity of 21.07% and a net margin of 5.05%. The business had revenue of $238.50 million during the quarter, compared to analysts’ expectations of $236.82 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Haemonetics updated its FY 2020 guidance to $2.95-3.15 EPS and its FY20 guidance to $2.95-3.15 EPS.

NYSE:HAE opened at $136.10 on Friday. Haemonetics has a 1 year low of $80.24 and a 1 year high of $137.49. The company has a current ratio of 2.10, a quick ratio of 1.34 and a debt-to-equity ratio of 0.54. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 56.95, a PEG ratio of 3.36 and a beta of 0.82. The stock has a 50-day moving average price of $124.08 and a two-hundred day moving average price of $101.19.

In other news, VP Dan Goldstein sold 475 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $133.23, for a total value of $63,284.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald G. Gelbman sold 1,696 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $134.15, for a total value of $227,518.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,830 shares of company stock valued at $5,153,165. Insiders own 1.32% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Alpha Windward LLC bought a new stake in Haemonetics during the second quarter worth about $29,000. Financial Gravity Wealth Inc. bought a new stake in Haemonetics during the second quarter worth about $40,000. Quadrant Capital Group LLC raised its holdings in Haemonetics by 708.8% during the first quarter. Quadrant Capital Group LLC now owns 647 shares of the medical instruments supplier’s stock worth $54,000 after acquiring an additional 567 shares in the last quarter. Ellis Investment Partners LLC bought a new stake in Haemonetics in the first quarter valued at approximately $79,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Haemonetics in the second quarter valued at approximately $90,000. Institutional investors own 98.47% of the company’s stock.

A number of brokerages recently commented on HAE. JMP Securities lifted their price objective on Haemonetics to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley lifted their price objective on Haemonetics from $128.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Raymond James lifted their price objective on Haemonetics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on Haemonetics from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $139.00 price objective (up from $116.00) on shares of Haemonetics in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $140.67.

Haemonetics Company Profile

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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Earnings History for Haemonetics (NYSE:HAE)

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