Haemonetics: Strong Performance and Optimistic Growth Outlook Drives Buy Rating

Mizuho Securities analyst Anthony Petrone has maintained their bullish stance on HAE stock, giving a Buy rating today.

Anthony Petrone has given his Buy rating due to a combination of factors highlighting Haemonetics’s recent performance and future prospects. The company exceeded expectations in its recent quarterly results, reporting a notable beat driven by strong performance in its Interventional Technology and Blood Center segments. This was accompanied by a significant outperformance in adjusted operating margin, which surpassed expectations by 170 basis points.
Additionally, Haemonetics raised its organic revenue growth outlook to 1-4%, with particular strength in its Hospital segment driven by the successful adoption of VASCADE XL. The plasma business also showed resilience, meeting expectations amid strong demand trends. Despite keeping full-year EPS guidance unchanged, Petrone anticipates a positive market reaction due to the company’s strategic position and optimistic growth indicators, evidenced by upward trends in key product uptake and margin improvements.

In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $125.00 price target.

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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.