FY2019 EPS Estimates for Haemonetics Co. (HAE) Increased by Barrington Research

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Haemonetics Co. (NYSE:HAE) – Barrington Research increased their FY2019 earnings per share estimates for Haemonetics in a research note issued to investors on Wednesday, November 7th. Barrington Research analyst M. Petusky now anticipates that the medical instruments supplier will post earnings per share of $2.32 for the year, up from their prior forecast of $2.28. Barrington Research has a “Buy” rating and a $127.00 price target on the stock. Barrington Research also issued estimates for Haemonetics’ FY2020 earnings at $3.00 EPS.

A number of other analysts have also recently commented on HAE. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a report on Friday, October 12th. Morgan Stanley boosted their target price on shares of Haemonetics from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, August 8th. Jefferies Financial Group restated a “buy” rating and set a $125.00 target price on shares of Haemonetics in a report on Tuesday, August 7th. Finally, TheStreet cut shares of Haemonetics from a “b” rating to a “c+” rating in a report on Monday, August 20th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $113.20.

Shares of HAE stock opened at $111.61 on Friday. Haemonetics has a 12 month low of $53.74 and a 12 month high of $117.56. The firm has a market cap of $5.95 billion, a PE ratio of 52.31, a price-to-earnings-growth ratio of 3.66 and a beta of 1.09. The company has a current ratio of 2.92, a quick ratio of 1.94 and a debt-to-equity ratio of 0.47.

Haemonetics (NYSE:HAE) last announced its earnings results on Tuesday, November 6th. The medical instruments supplier reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. Haemonetics had a net margin of 2.26% and a return on equity of 16.04%. The firm had revenue of $241.58 million for the quarter, compared to analysts’ expectations of $233.44 million. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis.

In other news, Director Pedro P. Granadillo sold 12,322 shares of Haemonetics stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $114.50, for a total value of $1,410,869.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jacqueline Scanlan sold 4,890 shares of Haemonetics stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $112.19, for a total value of $548,609.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,653 shares of company stock valued at $6,973,391. 1.04% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Chicago Equity Partners LLC raised its position in shares of Haemonetics by 34.0% in the 2nd quarter. Chicago Equity Partners LLC now owns 86,665 shares of the medical instruments supplier’s stock worth $7,772,000 after purchasing an additional 22,000 shares during the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Haemonetics in the 2nd quarter worth about $932,000. ING Groep NV purchased a new position in shares of Haemonetics in the 2nd quarter worth about $485,000. MetLife Investment Advisors LLC raised its position in shares of Haemonetics by 142.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 57,955 shares of the medical instruments supplier’s stock worth $5,197,000 after purchasing an additional 34,009 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Haemonetics in the 2nd quarter worth about $1,794,000. 96.44% of the stock is owned by hedge funds and other institutional investors.

About Haemonetics

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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