Blood products company Haemonetics (NYSE: HAE) will be reporting results this Thursday before market open. Here’s what to look for.
Haemonetics beat analysts’ revenue expectations last quarter, reporting revenues of $346.4 million, up 4.8% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a narrow beat of analysts’ EPS 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 2.7% year on year, a reversal from the 4.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q2 results, giving us a hint as to what we can expect. Inspire Medical Systems’s revenues decreased 7.6% year on year, beating analysts’ expectations by 3%, and Integer Holdings reported a revenue decline of 2.6%, topping estimates by 3%. Inspire Medical Systems traded up 22.6% following the results while Integer Holdings was also up 3.2%.
Read our full analysis of Inspire Medical Systems’s results here and Integer Holdings’s results here.
Investors in the medical devices & supplies - specialty segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Haemonetics is up 13.8% during the same time and is heading into earnings with an average analyst price target of $87.90 (compared to the current share price of $85.38).
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