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Analysts’ Recommendations for Haemonetics and Peers in March 2018

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Nov. 20 2020, Updated 1:21 p.m. ET

Financial performance in fiscal 3Q18

In its fiscal 3Q18, which ended on December 31, 2017, Haemonetics (HAE) reported revenue of close to $234 million, a YoY (year-over-year) rise of ~2.7% on a reported basis and a rise of 1.1% on a constant currency basis. 

The company has reported revenue of ~$670 million YTD (year-to-date) in fiscal 2018, which reflects YoY growth of 1.9% on a reported basis and 1.4% on a constant currency basis.

While HAE’s YTD revenues in fiscal 3Q17 and fiscal 2017 included the sales of tube sealing equipment under the SEBRA product line, they’re not included in the company’s fiscal 2018 revenue performance.

Haemonetics witnessed 2% organic revenue growth in fiscal 3Q18, while its plasma, hospital, and blood center businesses reported organic revenue growths of ~5%, 6%, and -5%, respectively, in the quarter.

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In fiscal 3Q18, Haemonetics reported adjusted EPS (earnings per share) of close to $0.62, a YoY rise of 44%. Approximately $0.12 of its EPS were attributable to the fall in its fiscal 2018 tax rates due favorable foreign currency movements and the recently passed tax reforms, partially offset by dilution due to its increased share count. 

In other words, while US tax reform and foreign currency fluctuations contributed $0.10 and $0.04, respectively, to Haemonetics’ fiscal 3Q18 adjusted EPS, the increase in its share count had a negative adjusted EPS impact of ~$0.02 per share. Excluding the impact of one-time events, Haemonetics reported adjusted EPS of close to $0.50 in fiscal 3Q18, almost $0.07 higher than that witnessed in fiscal 3Q17.

Analysts’ recommendations for Haemonetics

Of the nine analysts covering Haemonetics in March 2018, two have recommended “strong buys,” two have recommended “buys,” and five have recommended “holds” on the stock. No analysts have recommended “sells” or “strong sells” on the stock.

Analysts’ recommendations for HAE’s peers

Of the 15 analysts covering Cooper Companies (COO) in March 2018, 60.0% have recommended “buys” on the stock. About 56.4% of the 16 analysts covering Terumo (TRUMY) have recommended “buys” on its stock, and 83.3% of the 27 analysts tracking Teleflex (TFX) have recommended “buys” on its stock.

In the next article, we’ll discuss the revenue growth prospects for Haemonetics in greater detail.

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