Haemonetics: Strong Financial Performance and Promising Outlook Justify Buy Rating

Michael Petusky, an analyst from Barrington, maintained the Buy rating on Haemonetics (HAE – Research Report). The associated price target remains the same with $108.00.

Michael Petusky has given his Buy rating due to a combination of factors, including Haemonetics’ strong financial performance and positive future outlook. The company reported higher-than-expected revenue of $345.5 million, surpassing both internal and consensus estimates. This strong performance was driven by significant growth in the hospital unit, despite declines in other segments.
Additionally, Haemonetics demonstrated robust earnings with a non-GAAP EPS of $1.12, exceeding expectations, which was supported by a solid gross margin. The company maintained a healthy balance sheet with substantial cash reserves and manageable debt levels. Furthermore, Haemonetics reaffirmed its FY/25 guidance, projecting steady revenue growth and improved operating margins. These factors, combined with a promising long-term earnings growth rate and a strategic focus on achieving higher margins, underpin Petusky’s Buy rating.

In another report released today, Raymond James also upgraded the stock to a Buy with a $120.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Haemonetics (HAE) Company Description:

Haemonetics Corp. engages in the development and distribution of hematology products and solutions. It operates through the following geographical segments: Japan, EMEA (Europe, the Middle East, and Africa), North America Plasma, and All Other. Its products include surgical and diagnostic devices, blood and plasma center devices, blood center software, hospital software, and plasma center software. The company was founded by Allen Latham, Jr. in 1971 and is headquartered in Braintree, MA.