Blood products company Haemonetics (NYSE:HAE). will be announcing earnings results this Thursday before market hours. Here’s what to expect.
Haemonetics beat analysts’ revenue expectations last quarter, reporting revenues of $339 million, down 2.7% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ revenue estimates.
Is Haemonetics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Haemonetics’s revenue to grow 1.7% year on year, a reversal from the 3.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Haemonetics rarely misses Wall Street’s revenue estimates.
Looking at Haemonetics’s peers in the medical devices & supplies - specialty segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bausch + Lomb delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 2.2%, and Integer Holdings reported flat revenue, topping estimates by 2.8%. Bausch + Lomb traded up 1.1% following the results while Integer Holdings’s stock price was unchanged.
Read our full analysis of Bausch + Lomb’s results here and Integer Holdings’s results here.
There has been positive sentiment among investors in the medical devices & supplies - specialty segment, with share prices up 6.5% on average over the last month. Haemonetics is down 4.8% during the same time and is heading into earnings with an average analyst price target of $84.60 (compared to the current share price of $55.64).
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