Haemonetics (HAE) Hits A 52-Week High: What's Driving It?
Zacks Investment Research | Feb 07, 2018 09:30PM ET
On Feb 7, shares of Haemonetics Corporation (NYSE:HAE) reached a new 52-week high of $70.89, closing the session marginally lower at $69.73. The stock hit the high following impressive third-quarter fiscal 2018 earnings results, the day before.
Haemonetics had a great run on the bourses in the past year. The stock has returned 86.5% compared with the S&P 500 index’s gain of 16.6%. The return is also higher than the broader industry 's rally of 17.2%.
Considering this, one may expect the Massachusetts-based blood management company to scale new highs in the upcoming quarters. Further, the company delivered average positive earnings surprise of 17.5% in the trailing four quarters. A positive growth rate of 12.4% for the next year also instills optimism.
Estimate revision trends for the current year look impressive. In the last two months, one estimate has moved north, with no movement in the opposite direction.
Haemonetics Corporation Price and Consensus
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