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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

Breaking News: Haemonetics Corporation reported its Q3 earnings, beating EPS and revenue estimates with margins expanding sharply. Revenue was $339 million, with notable growth in its NexSys plasma platform and TEG hospital blood management franchise. However, sales fell 2.7% year over year. The company raised its full-year revenue, earnings, and free cash flow guidance. Analysts have revised their forecasts following the earnings release. Some analysts have a positive outlook on the company, with a buy recommendation given by some, while others have a hold recommendation.

1.c. Company Highlights

2. Haemonetics Corporation Delivers Strong Q3 FY 2026 Earnings

Haemonetics Corporation reported its third-quarter fiscal 2026 earnings, with revenue of $339 million, a 10% organic growth ex CSL, and adjusted EPS of $1.31, up 10% from the prior year. The company's adjusted operating margin expanded 60 basis points year-over-year to 26.3%. The actual EPS came out at $0.952, relative to estimates at $1.27. The company generated $74 million of free cash flow in the quarter and raised its fiscal year 2026 free cash flow guidance to $200 million to $220 million.

Publication Date: Feb -08

📋 Highlights
  • Revenue Growth:: Q3 revenue reached $339 million with 10% organic growth ex CSL, driven by 3% plasma and 20% blood center revenue growth.
  • Earnings Performance:: Adjusted EPS rose 10% YoY to $1.31, supported by margin expansion and operational efficiency.
  • Free Cash Flow:: Generated $74 million in Q3, raising FY2026 guidance to $200–$220 million, reflecting strong liquidity.
  • Margin Expansion:: Adjusted operating margin grew 60 bps YoY to 26.3%, with full-year guidance of 26–27% despite uneven segment performance.
  • Plasma Market Leadership:: Plasma business offset hospital segment declines, with plasma apheresis growth and robust share gains in new centers.

Segment Performance

The company's hospital business delivered revenue of $144 million, down 1% organically, while plasma and blood center revenue grew 3% and 20% organically, respectively. The IVP business declined 12% in the quarter, with 8.5% of the decline attributed to esophageal cooling and disruption from PFA. The blood center business had a positive year-to-date performance, driven by plasma apheresis growth.

Guidance and Outlook

The company raised its full-year revenue guidance to a decline of 1% to 3% and organic revenue growth ex CSL to 8% to 10%. Haemonetics expects to finish the year with an adjusted operating margin of 26% to 27%. The company guides to the things it can control, including share uptick in new centers and price annualization in the plasma business. Analysts estimate next year's revenue growth at 5.2%.

Valuation Metrics

With a P/E Ratio of 15.83, P/B Ratio of 3.05, and EV/EBITDA of 9.69, the market seems to have priced in a reasonable growth trajectory for Haemonetics Corporation. The company's ROIC is 8.67%, and ROE is 20.26%, indicating a decent return on capital and equity. The Free Cash Flow Yield is 11.09%, suggesting a relatively attractive cash return profile.

Strategic Developments

The acquisition of VIVUSHORE is expected to bring a product to market in 2027, which will meaningfully extend the company's leadership in vascular closure. The company is focused on returning the IVP franchise to growth and has a confident strategy and tactics in place. Haemonetics has made significant progress in addressing gaps in their corporate accounts presence, particularly in Ambulatory Surgery Centers (ASCs) and Integrated Delivery Networks (IDNs).

3. NewsRoom

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Chuck Royce's Strategic Moves: Significant Reduction in Haemonetics Corp

Feb -09

Source: gurufocus.com

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Haemonetics Q3 Earnings Call Highlights

Feb -08

Source: defenseworld.net

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These Analysts Revise Their Forecasts On Haemonetics After Q3 Earnings

Feb -06

Source: benzinga.com

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Haemonetics Q3 Earnings & Revenues Beat, Margins Up, Stock Slips

Feb -06

Source: zacks.com

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Haemonetics Corporation (HAE) Q3 2026 Earnings Call Transcript

Feb -05

Source: seekingalpha.com

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Intellia Therapeutics: 2 Major Catalysts Will Determine Stock's Trajectory In 2026

Feb -05

Source: seekingalpha.com

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Haemonetics (HAE) Reports Q3 Earnings: What Key Metrics Have to Say

Feb -05

Source: zacks.com

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Haemonetics (HAE) Q3 Earnings and Revenues Beat Estimates

Feb -05

Source: zacks.com

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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A-Score: 3.7/10

Value: 4.0

Growth: 6.2

Quality: 6.3

Yield: 0.0

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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

57.69$

Current Price

57.69$

Potential

-0.00%

Expected Cash-Flows