Blood products company Haemonetics (NYSE:HAE). will be announcing earnings results tomorrow before the bell. Here’s what to expect.
Haemonetics beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $345.5 million, up 8.6% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ organic revenue estimates but EPS in line with analysts’ estimates.
Is Haemonetics a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Haemonetics’s revenue to grow 5% year on year to $353 million, slowing from the 10.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.17 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Haemonetics has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3% on average.
Looking at Haemonetics’s peers in the healthcare equipment and supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 25.2%, beating analysts’ expectations by 6.5%, and Boston Scientific reported revenues up 22.4%, topping estimates by 3.3%. Intuitive Surgical traded down 4% following the results.
Read our full analysis of Intuitive Surgical’s results here and Boston Scientific’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.7% on average over the last month. Haemonetics is down 11.2% during the same time and is heading into earnings with an average analyst price target of $110.80 (compared to the current share price of $68.99).
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