Haemonetics (NYSE:HAE) Announces Quarterly Earnings Results

Haemonetics (NYSE:HAE) released its quarterly earnings data on Thursday. The medical instruments supplier reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01), Briefing.com reports. The firm had revenue of $336.17 million for the quarter, compared to analyst estimates of $335.08 million. Haemonetics had a return on equity of 22.25% and a net margin of 8.98%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. Haemonetics updated its FY25 guidance to $4.45 to $4.75 EPS and its FY 2025 guidance to 4.450-4.750 EPS.

Haemonetics Price Performance

HAE stock traded up $0.60 during midday trading on Friday, reaching $77.03. The company had a trading volume of 848,252 shares, compared to its average volume of 525,351. Haemonetics has a 1 year low of $70.74 and a 1 year high of $97.97. The company has a market capitalization of $3.92 billion, a P/E ratio of 33.64, a P/E/G ratio of 1.64 and a beta of 0.29. The firm has a 50-day moving average price of $86.50 and a 200-day moving average price of $84.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Needham & Company LLC raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a report on Wednesday, June 12th. JMP Securities raised their price objective on Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Friday, May 10th. Finally, Barrington Research raised their target price on Haemonetics from $107.00 to $108.00 and gave the company an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.75.

Insider Activity at Haemonetics

In other Haemonetics news, insider Stewart W. Strong sold 686 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $95.11, for a total value of $65,245.46. Following the completion of the transaction, the insider now directly owns 18,196 shares in the company, valued at approximately $1,730,621.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Stewart W. Strong sold 733 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $96.04, for a total value of $70,397.32. Following the sale, the insider now directly owns 15,608 shares of the company’s stock, valued at $1,498,992.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stewart W. Strong sold 686 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $95.11, for a total value of $65,245.46. Following the completion of the sale, the insider now directly owns 18,196 shares in the company, valued at $1,730,621.56. The disclosure for this sale can be found here. Insiders sold 31,523 shares of company stock worth $2,812,120 in the last three months. 1.80% of the stock is owned by insiders.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.