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1. Company Snapshot

1.a. 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.

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1.b. Last Insights on HAE

Haemonetics Corporation's recent performance was driven by strong Q2 earnings, beating estimates with $1.27 per share, and robust profit margins. The company's TEG and plasma businesses fueled organic growth, leading to raised full-year EPS guidance to $4.80-$5.00. Haemonetics' attractive valuation at a 14x forward P/E and increased free cash flow outlook to $170-$210 million also contributed positively. Additionally, the company's international revenue performance and leading position in the HAE market further solidified its prospects.

1.c. Company Highlights

2. Haemonetics' Q2 2026 Earnings: A Strong Performance

Haemonetics reported a robust financial performance in Q2 2026, with hospital revenue reaching $146 million, up 5% on a reported basis and 4% organically. Adjusted EPS increased 13% to $1.27, beating estimates of $1.12. The company's adjusted gross margin expanded to 60.5%, up 380 basis points year-over-year, driven by the benefits of its strategic portfolio transformation and ongoing productivity initiatives. Adjusted operating income rose 5% to $87 million, with an adjusted operating margin of 26.7%, a new record high.

Publication Date: Nov -15

📋 Highlights
  • Hospital Revenue Growth:: Q2 revenue reached $146M (up 5% reported, 4% organic), with $285M year-to-date.
  • Earnings Expansion:: Adjusted EPS rose 13% to $1.27 in Q2 and 11% to $2.36 YTD, driven by margin improvements.
  • Gross Margin Record:: Adjusted gross margin hit 60.5% in Q2 (380 bps increase) and 60.6% YTD (460 bps increase).
  • Blood Management Growth:: Segment grew 12% in Q2 and 13% YTD, fueled by the heparinase neutralization cartridge launch.
  • Updated Guidance:: Full-year adjusted EPS raised to $4.80–$5/share ($0.20–$0.35 above prior) and free cash flow to $170M–$210M.

Segment Performance

The Blood Management Technologies segment was a strong performer, growing 12% in the quarter and 13% year-to-date, driven by the launch of the global heparinase neutralization cartridge. The Blood Center segment also reported 4% organic growth, due to the company's focus on plasma apheresis done in blood centers, often with its NexSys device. As Christopher Simon noted, "We've successfully completed the MVP-XL trial and are on track to submit to the FDA before the shutdown."

Guidance Update

Haemonetics raised its full-year adjusted EPS guidance to $4.80 to $5 a share and its full-year free cash flow guidance to $170 million to $210 million. The company's priorities remain focused on meeting debt obligations, returning excess cash to shareholders via buybacks when appropriate, and advancing targeted investments in its growth products.

Valuation

With a P/E Ratio of 20.79 and an EV/EBITDA of 13.93, Haemonetics' valuation appears reasonable, considering its strong growth prospects. The company's ROE of 19.45% and ROIC of 8.6% indicate a healthy return on equity and invested capital. Analysts estimate next year's revenue growth at -3.3%, but Haemonetics' diversified portfolio and disciplined execution position it for long-term success.

Outlook

Haemonetics' management is confident in the sustainability of its Blood Center growth and expects this business to finish flat for the year. The company's commitment to advancing its growth products, including VASCADE and the heparinase neutralization cartridge, is expected to drive future growth. With a robust cash flow and healthy free cash flow to net income conversion ratio, Haemonetics is well-positioned to execute on its capital allocation priorities.

3. NewsRoom

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Pharvaris Stock Gains on HAE Drug Meeting Late-Stage Study Goals

Dec -04

Source: zacks.com

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Pharvaris Announces Positive Topline Data from RAPIDe-3 Pivotal Study Confirming Potential of Deucrictibant for On-Demand Treatment of HAE Attacks

Dec -03

Source: globenewswire.com

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Fisher Asset Management LLC Cuts Position in Haemonetics Corporation $HAE

Dec -03

Source: defenseworld.net

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Top 2 Health Care Stocks You May Want To Dump This Month

Dec -02

Source: benzinga.com

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Boston Partners Buys 11,738 Shares of Haemonetics Corporation $HAE

Nov -28

Source: defenseworld.net

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Touchstone Small Company Fund Q3 2025 Performance Review

Nov -27

Source: seekingalpha.com

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Touchstone Small Cap Fund Q3 2025 Contributors And Detractors

Nov -26

Source: seekingalpha.com

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Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 898 Shares of Haemonetics Corporation $HAE

Nov -24

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.09%)

6. Segments

Plasma

Expected Growth: 10%

Haemonetics' Plasma segment growth is driven by increasing demand for plasma-derived therapies, expansion in emerging markets, and strategic partnerships. The company's investments in plasma collection technology and capacity expansion also contribute to growth. Additionally, the rising prevalence of bleeding disorders and immune deficiencies fuels demand for plasma-based treatments, further supporting the segment's 10% growth rate.

Hospital

Expected Growth: 9%

Haemonetics' Hospital segment growth is driven by increasing demand for plasma collection, adoption of automated blood component collection systems, and expansion into emerging markets. Additionally, the company's focus on improving blood management practices, reducing healthcare costs, and enhancing patient outcomes also contribute to its growth.

Blood Center

Expected Growth: 8%

Haemonetics' Blood Center segment growth is driven by increasing demand for plasma and blood components, advancements in plasma collection technologies, and growing adoption of pathogen reduction treatments. Additionally, the company's strategic acquisitions and partnerships have expanded its customer base and enhanced its product offerings, contributing to the 8% growth rate.

Service

Expected Growth: 7%

Haemonetics Corporation's 7% growth in Service segment is driven by increasing demand for plasma collection and blood management solutions, expansion into emerging markets, and strategic partnerships. Additionally, the company's focus on innovation, such as its NexSys Persona plasma collection system, and cost savings initiatives contribute to its growth momentum.

Reconciling Items

Expected Growth: 6%

Haemonetics Corporation's 6% growth is driven by increasing demand for plasma-derived therapies, expansion in emerging markets, and strategic acquisitions. Additionally, the company's focus on innovation, particularly in the plasma collection and blood screening segments, has contributed to its growth. Furthermore, the rising need for blood transfusions and surgical procedures has also fueled the company's revenue growth.

7. Detailed Products

Blood Component Collection

Haemonetics' blood component collection systems are designed to collect and process blood donations, providing a safe and efficient way to collect whole blood, plasma, and platelets.

Platelet and Plasma Solutions

Haemonetics' platelet and plasma solutions provide a range of products and services to support the collection, processing, and transfusion of platelets and plasma.

Cell Salvage

Haemonetics' cell salvage systems are designed to recover and process blood lost during surgery, reducing the need for allogenic blood transfusions.

OrthoPAT

Haemonetics' OrthoPAT system is a perioperative autotransfusion system designed to recover and process blood lost during orthopedic and neurosurgical procedures.

TEG Thrombelastograph Hemostasis Analyzer

Haemonetics' TEG system is a diagnostic tool used to assess blood coagulation and platelet function, helping clinicians to diagnose and manage bleeding disorders.

Cell Processing and Storage

Haemonetics' cell processing and storage solutions provide a range of products and services to support the processing, storage, and distribution of cellular therapies.

8. Haemonetics Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Haemonetics Corporation faces moderate threat from substitutes, as there are limited alternatives to its blood and plasma collection products. However, the company's focus on innovation and quality helps to mitigate this threat.

Bargaining Power Of Customers

Haemonetics Corporation's customers, primarily hospitals and blood banks, have limited bargaining power due to the company's strong brand reputation and wide range of products.

Bargaining Power Of Suppliers

Haemonetics Corporation's suppliers, primarily manufacturers of raw materials and components, have moderate bargaining power due to the company's dependence on a few key suppliers.

Threat Of New Entrants

The threat of new entrants is low for Haemonetics Corporation, as the industry requires significant investment in research and development, manufacturing, and regulatory compliance.

Intensity Of Rivalry

The medical technology industry is highly competitive, with several established players competing for market share. Haemonetics Corporation faces intense rivalry from companies such as Fresenius Kabi and Grifols.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 45.94%
Debt Cost 3.95%
Equity Weight 54.06%
Equity Cost 5.62%
WACC 4.85%
Leverage 85.00%

11. Quality Control: Haemonetics Corporation passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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AptarGroup

A-Score: 4.8/10

Value: 4.0

Growth: 5.1

Quality: 5.8

Yield: 3.0

Momentum: 1.5

Volatility: 9.3

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Merit Medical Systems

A-Score: 4.4/10

Value: 2.6

Growth: 7.3

Quality: 6.5

Yield: 0.0

Momentum: 2.5

Volatility: 7.7

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Hologic

A-Score: 4.3/10

Value: 2.9

Growth: 5.8

Quality: 7.1

Yield: 0.0

Momentum: 1.5

Volatility: 8.3

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Haemonetics

A-Score: 3.8/10

Value: 5.1

Growth: 6.2

Quality: 6.0

Yield: 0.0

Momentum: 0.5

Volatility: 5.0

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Teleflex

A-Score: 3.6/10

Value: 4.7

Growth: 3.4

Quality: 5.4

Yield: 1.0

Momentum: 0.5

Volatility: 6.7

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Repligen

A-Score: 3.0/10

Value: 0.2

Growth: 5.0

Quality: 3.9

Yield: 0.0

Momentum: 5.0

Volatility: 3.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

83.94$

Current Price

83.94$

Potential

-0.00%

Expected Cash-Flows