Haemonetics Corp. (HAE)
NYSE:HAE
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Haemonetics
(NYSE:HAE)
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Rating:67Neutral
Price Target:
$62.00
▲(8.16% Upside)
Action:ReiteratedDate: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
Recurring consumables model
Haemonetics' installed device base drives high-frequency, proprietary disposable sales that produce recurring revenue and stable procedure-linked cash flow. This razor/razor-blade model supports durable gross margins, predictable unit economics and long-term revenue visibility tied to procedure volumes.
Negative Factors
Elevated leverage
Higher leverage reduces financial flexibility for investment and increases interest/tax sensitivity if revenue softness persists. Elevated debt levels constrain runway for large strategic initiatives and elevate refinancing risk, particularly if cash flow weakens or cost of capital rises.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables model
Haemonetics' installed device base drives high-frequency, proprietary disposable sales that produce recurring revenue and stable procedure-linked cash flow. This razor/razor-blade model supports durable gross margins, predictable unit economics and long-term revenue visibility tied to procedure volumes.
Read all positive factors
Haemonetics (HAE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.66B
Dividend YieldN/A
Average Volume (3M)740.80K
Price to Earnings (P/E)21.0
Beta (1Y)0.63
Revenue Growth-2.45%
EPS Growth41.50%
CountryUS
Employees3,657
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)1.31
Shares Outstanding46,471,350
10 Day Avg. Volume657,092
30 Day Avg. Volume740,803
Financial Highlights & Ratios
PEG Ratio0.44
Price to Book (P/B)3.87
Price to Sales (P/S)2.34
P/FCF Ratio22.33
Enterprise Value/Market Cap1.33
Enterprise Value/Revenue2.69
Enterprise Value/Gross Profit4.60
Enterprise Value/Ebitda9.44
Forecast
1Y Price Target
$82.83Price Target Upside44.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)5.31
Revenue Forecast (FY)$1.39B
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 softwa...
How the Company Makes Money
Haemonetics makes money primarily by selling proprietary medical devices and, more importantly, the recurring consumable disposables and supplies used with those devices. A core revenue engine is its plasma and blood collection franchise: the comp...
Haemonetics Key Performance Indicators (KPIs)
Haemonetics Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
Overall the call was constructive: the company reported durable organic growth (notably in plasma and blood management technologies), margin expansion, accelerating cash generation, and raised guidance for revenue and free cash flow. These positives outweigh the clear near-term challenges in Interventional Technologies (driven by PFA adoption, OEM dynamics and order timing), vascular closure share loss in select accounts, and the lingering reported revenue impact from prior portfolio transitions. Management outlined funded remediation plans for IVT (MVP XL label expansion and PercuSeal Elite launch) and expects IVT to return to growth in FY2027, supporting a positive outlook.Positive Updates
Solid revenue and organic growth
Q3 revenue of $339M and year-to-date revenue of $988M; organic revenue growth ex CSL of 8% in the quarter and 10% year-to-date (management notes reported results include a $153M impact from prior-year portfolio transitions).
Negative Updates
Interventional Technologies (IVT) weakness
Interventional technologies revenue declined 12% in the quarter and 8% year-to-date, with the bulk of the decline attributed to esophageal cooling softness amid accelerating PFA adoption and OEM-related headwinds in sensor-guided technologies.
Read all updates
Q3-2026 Updates
Positive
Negative
Solid revenue and organic growth
Q3 revenue of $339M and year-to-date revenue of $988M; organic revenue growth ex CSL of 8% in the quarter and 10% year-to-date (management notes reported results include a $153M impact from prior-year portfolio transitions).
Read all positive updates
Company Guidance
Haemonetics raised full‑year fiscal 2026 guidance after a strong Q3: revenue was $339M (YTD $988M), with hospital revenue $144M Q3 ($429M YTD), plasma $139M Q3 (+3% reported; organic ex‑CSL +20% Q3 / +22% YTD), blood management technologies +8% Q3 / +11% YTD, interventional technologies down 12% Q3, and blood center $57M Q3 ($165M YTD, +3% Q3 / +4% YTD organic). Management now expects full‑year reported revenue to decline 1%–3% (was −1%–4%), organic revenue ex‑CSL to grow 8%–10% (was 7%–10%), plasma organic growth to be 17%–19% (was 14%–17%), blood center reported revenue to decline 16%–18% (was 17%–19%) with organic +1%–3%, and hospital to grow ~4% (reported and organic). They raised adjusted EPS guidance to $4.90–$5.00, continue to expect adjusted operating margin around 26%–27%, an adjusted tax rate of ~25%, Q3 adjusted gross margin 60.2% (YTD 60.5%), Q3 adjusted operating income $89M (YTD $254M), Q3 adjusted net income $61M (YTD $175M) and Q3 adjusted EPS $1.31 (YTD $3.67). Cash flow was a highlight: Q3 free cash flow $74M (YTD $165M), operating cash flow $94M Q3 ($222M YTD), FCF conversion 121% Q3 / 95% YTD, and FCF guidance raised to $200M–$220M (prev $170M–$210M) with expected full‑year conversion >80%; balance sheet metrics include cash $363M (+18% YTD), total debt ~ $1.2B, no revolver borrowings, net leverage 2.37x EBITDA, a $61M Vivushore acquisition subsequent to quarter end, repayment impact from $300M convertible notes, and ~360k shares repurchased for ~$25M.Haemonetics Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
76
Positive
| 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
Negative
57.32
Price Trends
60.40
Negative
69.51
Negative
64.69
Negative
Market Momentum
-1.01
Negative
42.51
Neutral
59.05
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 57.32 is below the 20-day moving average (MA) of 57.75, below the 50-day MA of 60.40, and below the 200-day MA of 64.69, indicating a bearish trend. The MACD of -1.01 indicates Negative momentum. The RSI at 42.51 is Neutral, neither overbought nor oversold. The STOCH value of 59.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HAE.
Haemonetics Risk Analysis
Haemonetics disclosed 37 risk factors in its most recent earnings report. Haemonetics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Haemonetics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.57B | 31.80 | 15.58% | 0.95% | 13.07% | 27.98% | |
67 Neutral | $2.66B | 20.99 | 20.26% | ― | -2.45% | 41.50% | |
66 Neutral | $4.06B | 40.58 | 8.52% | ― | 11.49% | -2.89% | |
57 Neutral | $3.10B | 4,802.44 | 0.04% | ― | -0.81% | 93.27% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $5.23B | -6.01 | -23.70% | 1.11% | 5.43% | -245.18% | |
45 Neutral | $942.93M | -1.76 | -46.45% | ― | -3.43% | 38.98% |
* Healthcare Sector Average
HAE
Haemonetics
57.32
-2.72
-4.53%
ICUI
ICU Medical
125.68
-16.97
-11.90%
LMAT
Lemaitre Vascular
114.62
32.55
39.66%
MMSI
Merit Medical Systems
68.26
-23.78
-25.84%
QDEL
QuidelOrtho
13.85
-13.06
-48.53%
TFX
Teleflex
118.39
-10.02
-7.80%
Haemonetics Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Haemonetics Retires 2026 Convertible Notes, Simplifies Capital Structure
Positive
Mar 3, 2026
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 borrowing...
Business Operations and Strategy
Haemonetics Releases 2024-2025 Corporate Responsibility Report
Neutral
Feb 12, 2026
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...
Business Operations and StrategyM&A Transactions
Haemonetics acquires Vivasure to expand structural heart portfolio
Positive
Jan 9, 2026
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—an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.