Haemonetics (HAE) AI Stock Analysis

• Market Cap: $2.77B
• Dividend Yield: N/A
• Average Volume (3M): 919.18K
• Price to Earnings (P/E): 21.0
• Beta (1Y): 0.61
• Revenue Growth: -2.45%
• EPS Growth: 41.50%
• Country: US
• Employees: 3,657
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 1.31
• Shares Outstanding: 46,471,350
• 10 Day Avg. Volume: 787,144
• 30 Day Avg. Volume: 919,182
• PEG Ratio: 0.44
• Price to Book (P/B): 3.87
• Price to Sales (P/S): 2.34
• P/FCF Ratio: 22.33
• Enterprise Value/Market Cap: 1.32
• Enterprise Value/Revenue: 2.79
• Enterprise Value/Gross Profit: 4.76
• Enterprise Value/Ebitda: 9.78
• 1Y Price Target: $83.83
• Price Target Upside: 40.42% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 4.95
• Revenue Forecast (FY): $1.33B

• Rating: 67 Neutral
• Price Target: $69.00 ▲(15.58% Upside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is driven primarily by solid profitability and strong cash generation alongside a positive earnings outlook with raised EPS/FCF guidance. Offsetting these are the sharp TTM revenue decline and higher leverage, while technical indicators remain mixed and suggest limited momentum.

Positive Factors

Free Cash Flow Conversion

Consistently strong FCF conversion demonstrates durable cash-generation that funds operations, buybacks, tuck‑ins and debt paydown without relying on equity. Higher and upgraded FCF guidance reduces financing risk and supports strategic flexibility over the next 2–6 months.

Margin Expansion and Operating Profitability

Material gross- and operating-margin improvements reflect better product mix, higher utilization of consumables and operating leverage. Sustained mid‑20s operating margins provide durable earnings power, enabling reinvestment and resilience through slower revenue periods.

Plasma Franchise & Product Innovation

Persona PLUS clearance and a high-growth plasma franchise create structural competitive advantage: tailored collections boost volume per donor and utilization of consumables. Combined with strong organic plasma growth and raised guidance, this supports durable revenue and recurring consumables over time.

Negative Factors

Sharp TTM Revenue Decline

A very large TTM revenue drop materially weakens topline visibility and strains fixed-cost absorption. If sustained, it could undermine margin sustainability, slow cash conversion consistency and force tougher capital-allocation tradeoffs over the coming quarters.

Elevated Leverage

Higher leverage reduces financial flexibility and raises interest and refinancing sensitivity. With material debt on the book and recent convertible repayment activity, the company may face constrained scope for large organic investments, aggressive buybacks, or resilience if revenue weakness persists.

Interventional Technologies & Competitive Pressures

Persistent weakness in IVT and vascular closure reflects structural market shifts (e.g., PFA adoption), OEM headwinds and share losses. Recovery depends on new product approvals, adoption of acquired tech and remediation plans, leaving segment growth and margins uncertain near term.

Haemonetics Business Overview & Revenue Model

Company Description

Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system. It also provides automated blood component and manual whole blood collection systems, such as MCS brand apheresis equipment to collect specific blood components from the donor; disposable whole blood collection and component storage sets; SafeTrace Tx blood bank information system; and BloodTrack blood management software, a suite of blood management and bedside transfusion solutions that combines software with hardware components, as well as an extension of the hospital's blood bank information system. In addition, the company offers hospital products comprising TEG, ClotPro, and HAS hemostasis analyzer systems that provide a comprehensive assessment of a patient's overall hemostasis; TEG Manager software, which connects various TEG analyzers throughout the hospital, providing clinicians remote access to active and historical test results that inform treatment decisions; and Cell Saver Elite +, an autologous blood recovery system for cardiovascular, orthopedic, trauma, transplant, vascular, obstetrical, and gynecological surgeries. It markets and sells its products through direct sales force, independent distributors, and sales representatives. Haemonetics Corporation was founded in 1971 and is headquartered in Boston, Massachusetts.

How the Company Makes Money

Haemonetics generates revenue through several key streams including the sale of medical devices and consumables for blood collection and processing, software solutions for blood management, and services related to these products. The company earns significant income from its hematology products, particularly those used in blood and plasma centers. Additionally, Haemonetics has established partnerships with various healthcare organizations, enhancing its market reach and operational capabilities. Revenue is further supported by ongoing service agreements, maintenance contracts, and training services for healthcare providers, which create a recurring revenue model.

Haemonetics Financial Statement Overview

Summary

Profitability and cash generation are solid (TTM net margin ~13%, strong operating/FCF and good cash conversion), but the sharp TTM revenue decline is a major near-term risk and leverage is elevated (debt-to-equity ~1.34), reducing flexibility if growth remains volatile.

Income Statement

Revenue has grown strongly over the longer run (from $870M in 2021 to $1.36B in FY2025), but TTM (Trailing-Twelve-Months) shows a sharp revenue decline (down ~72%), which is a major near-term concern. Profitability has improved meaningfully versus earlier years, with net margin rising to ~12.3% in FY2025 and ~13.3% in TTM, and gross margin expanding to ~59% in TTM. Operating profitability remains solid (EBIT margin ~14.8% TTM), though it is lower than FY2025’s level (~18.2%), suggesting some recent margin pressure despite better gross margin.

Balance Sheet

The balance sheet shows elevated leverage: debt-to-equity is ~1.34 in TTM and ~1.49 in FY2025, higher than FY2024 (~0.84), indicating increased reliance on debt. Equity has improved versus FY2025 ($911M TTM vs $821M FY2025), and returns on equity are strong (~19–20%), reflecting good profitability on the capital base. The key weakness is the step-up in leverage versus prior years, which can reduce flexibility if the recent revenue drop persists.

Cash Flow

Cash generation is a clear strength: TTM operating cash flow is ~$339M and free cash flow is ~$308M, with very strong TTM free cash flow growth (~20x versus the prior period provided). Free cash flow is close to net income in TTM (~0.91x), indicating earnings are translating well into cash. A notable risk is that cash flow relative to reported earnings has been uneven historically (operating cash flow to net income ranges from ~0.31x in FY2025 to ~1.08x in FY2023), so consistency is not perfect even though the latest TTM is strong.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.32B	1.36B	1.31B	1.17B	993.20M	870.46M
Gross Profit	771.06M	778.55M	711.91M	622.87M	530.77M	428.45M
EBITDA	375.47M	355.99M	295.45M	252.01M	191.72M	184.38M
Net Income	175.44M	167.68M	117.56M	115.40M	43.38M	79.47M
Balance Sheet
Total Assets	2.49B	2.45B	2.20B	1.93B	1.86B	1.82B
Cash, Cash Equivalents and Short-Term Investments	363.37M	306.76M	178.80M	284.47M	259.50M	192.31M
Total Debt	1.22B	1.22B	807.79M	765.89M	780.78M	778.28M
Total Liabilities	1.58B	1.63B	1.24B	1.12B	1.11B	1.09B
Stockholders Equity	911.45M	820.84M	959.96M	818.00M	749.42M	731.67M
Cash Flow
Free Cash Flow	308.07M	142.45M	115.45M	162.87M	75.75M	71.77M
Operating Cash Flow	338.84M	181.72M	181.75M	273.06M	172.26M	108.81M
Investing Cash Flow	-74.89M	-161.90M	-322.39M	-143.79M	-86.34M	-425.44M
Financing Cash Flow	-228.41M	108.82M	38.16M	-100.36M	-15.75M	367.45M

Haemonetics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 59.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HAE, the sentiment is Negative. The current price of 59.7 is below the 20-day moving average (MA) of 62.07, below the 50-day MA of 66.88, and below the 200-day MA of 65.84, indicating a bearish trend. The MACD of -1.30 indicates Positive momentum. The RSI at 35.30 is Neutral, neither overbought nor oversold. The STOCH value of 10.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HAE.

Haemonetics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LMAT	78 Outperform	$2.52B	31.80	15.58%	0.95%	13.07%	27.98%
MMSI	68 Neutral	$4.11B	40.58	8.52%	―	11.49%	-2.89%
HAE	67 Neutral	$2.77B	20.99	20.26%	―	-2.45%	41.50%
ICUI	57 Neutral	$3.13B	4,802.44	0.04%	―	-0.81%	93.27%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TFX	50 Neutral	$4.83B	-6.01	-23.70%	1.11%	5.43%	-245.18%
QDEL	45 Neutral	$1.20B	-1.76	-46.45%	―	-3.43%	38.98%

Haemonetics Corporate Events

Haemonetics Retires 2026 Convertible Notes, Simplifies Capital Structure

On March 2, 2026, Haemonetics Corporation fully repaid at maturity its outstanding 0.00% Convertible Senior Notes due 2026, paying $300 million in cash equal to the principal amount. The company funded the repayment with cash on hand and borrowings under its revolving credit facility, and no noteholders exercised conversion rights before the maturity date.

With the maturity of the notes, the related capped call transactions expired in line with their terms, simplifying the company’s capital structure. The move removes this convertible debt from Haemonetics’ balance sheet, which may reduce potential future equity dilution while modestly increasing reliance on its revolving credit facility for liquidity.

The most recent analyst rating on (HAE) stock is a Buy with a $88.00 price target. To see the full list of analyst forecasts on Haemonetics stock, see the HAE Stock Forecast page.

Haemonetics Releases 2024-2025 Corporate Responsibility Report

On February 12, 2026, Haemonetics Corporation announced it had published its 2024-2025 Corporate Responsibility Report, making the document available through the corporate responsibility section of its website. The company characterized the report’s disclosure as furnished rather than filed under U.S. securities laws, signaling an effort to share environmental, social and governance information with stakeholders while limiting associated legal exposure.

The most recent analyst rating on (HAE) stock is a Buy with a $80.00 price target. To see the full list of analyst forecasts on Haemonetics stock, see the HAE Stock Forecast page.

Haemonetics acquires Vivasure to expand structural heart portfolio

On January 9, 2026, Haemonetics Corporation announced it had acquired Vivasure Medical Limited in a deal comprising an upfront cash payment of €100 million—about €52 million net of prior Haemonetics investments and loans—and up to an additional €85 million in milestone-based contingent consideration, financed entirely with cash on hand. The acquisition gives Haemonetics ownership of Vivasure’s PerQseal Elite bioabsorbable large-bore vessel closure technology, which has demonstrated strong safety and performance data, received CE Mark approval in Europe in 2025 and is under U.S. FDA review, strengthening Haemonetics’ portfolio of closure devices, deepening its presence in the fast-growing structural heart and endovascular markets, and positioning the company to leverage its commercial scale and operational synergies to increase its leadership and value proposition for physicians and hospitals.

The most recent analyst rating on (HAE) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Haemonetics stock, see the HAE Stock Forecast page.