Haemonetics (HAE) AI Stock Analysis

• Market Cap: $2.82B
• Dividend Yield: N/A
• Average Volume (3M): 965.92K
• Price to Earnings (P/E): 16.7
• Beta (1Y): 0.59
• 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: 921,812
• 30 Day Avg. Volume: 965,921
• 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: 1.33
• Enterprise Value/Revenue: 2.84
• Enterprise Value/Gross Profit: 4.86
• Enterprise Value/Ebitda: 9.98
• 1Y Price Target: $83.14
• Price Target Upside: 35.65% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 4.95
• Revenue Forecast (FY): $1.32B

• Rating: 61 Neutral
• Price Target: $63.00 ▲(2.79% Upside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is held back most by weak technicals (sharp downtrend and bearish momentum). Fundamentals are mixed: strong cash generation and profitability are offset by a steep TTM revenue decline and higher leverage. Valuation is reasonable at ~16x earnings, and the latest earnings call was supportive due to raised EPS/FCF guidance despite acknowledged segment headwinds.

Positive Factors

Strong free cash flow conversion

Sustained high free cash flow conversion indicates earnings reliably turn into cash, supporting deleveraging, tuck‑ins, and buybacks without needing external financing. This durable cash generation cushions cyclical revenue swings and funds strategic execution over the next 2–6 months.

Accelerating plasma franchise

Rapid organic growth in plasma collections reflects expanding market share and higher consumable utilization, which drives recurring revenue. Durable demand for plasma products and collection services strengthens the revenue base and improves predictability over the medium term.

Margin expansion and operating profitability

Sustained margin expansion signals improved product mix, pricing power, and operational leverage. Higher gross and operating margins enhance durable cash flow generation and return metrics, making the business more resilient to revenue variability in the coming quarters.

Negative Factors

Elevated leverage and debt load

Material leverage and ~2.4x net leverage reduce financial flexibility and increase sensitivity to interest costs and refinancing risk. Debt service and convertible-note impacts may constrain capital deployment and magnify downside if revenue softness persists over the next 2–6 months.

Sharp TTM revenue decline

A precipitous TTM revenue drop erodes the top-line base that funds margins and cash flow. Even with longer-run growth history, such a large decline materially raises execution risk, pressures utilization of installed systems, and can impair near-term deleveraging and investment plans.

Interventional/vascular closure headwinds

Structural procedural shifts (e.g., PFA adoption), OEM/manufacturing dynamics, and share losses in vascular closure reduce addressable revenue and create multi‑quarter recovery risk. Remediation efforts exist but competitive and procedural trends may restrain growth through FY2027.

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), but the sharp TTM revenue decline and higher leverage (debt-to-equity ~1.34 TTM) meaningfully increase near-term risk despite improved margins.

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: 61.29
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 61.29 is below the 20-day moving average (MA) of 62.41, below the 50-day MA of 72.49, and below the 200-day MA of 66.25, indicating a bearish trend. The MACD of -3.49 indicates Negative momentum. The RSI at 37.55 is Neutral, neither overbought nor oversold. The STOCH value of 73.86 is Neutral, 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
MMSI	77 Outperform	$4.92B	41.89	8.30%	―	11.49%	-2.89%
LMAT	75 Outperform	$2.06B	38.99	15.02%	0.95%	13.07%	27.98%
HAE	61 Neutral	$2.82B	16.67	19.30%	―	-2.45%	41.50%
TFX	61 Neutral	$4.97B	-15.20	-7.90%	1.11%	5.43%	-245.18%
ICUI	57 Neutral	$3.74B	-481.63	-0.35%	―	-0.81%	93.27%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
QDEL	45 Neutral	$1.64B	-1.42	-46.15%	―	-3.43%	38.98%

Haemonetics Corporate Events

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.