BTIG analyst Marie Thibault maintained a Buy rating on Haemonetics today and set a price target of $85.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Marie Thibault has given her Buy rating due to a combination of factors including Haemonetics’ strong performance in the Plasma segment, which exceeded expectations and contributed significantly to the company’s revenue. Despite challenges in the Interventional Technology segment, particularly with the Vascade product line, the company has shown resilience with its Blood Management Technology segment, which has seen impressive growth driven by new product launches and account openings.
While the Interventional Technology segment underperformed, the company’s management is actively working on a turnaround strategy, including new leadership and commercial initiatives. Thibault acknowledges the potential for recovery in the second half of the fiscal year, which could restore investor confidence. Although the stock faced a sell-off, Thibault believes it was an overreaction and maintains a positive outlook on Haemonetics’ ability to improve its performance, justifying the Buy rating with a price target of $85.
Thibault covers the Healthcare sector, focusing on stocks such as Irhythm Technologies, Atricure, and Orchestra BioMed Holdings. According to TipRanks, Thibault has an average return of -1.4% and a 39.16% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $68.00 price target.