Haemonetics Strong On Plasma & Hemostasis Management Units

On Nov 14, we issued an updated research report on Haemonetics Corporation (NYSE:HAE) . The company has been witnessing strong growth in Plasma and Hemostasis Management units for quite some time now. The stock currently carries a Zacks Rank #2 (Buy).

Shares of this leading provider of hematology products and solutions have outperformed its industry over the past year. The stock has gained 89.7% compared with the industry’s 1.2% rally.

Haemonetics’ Plasma arm continued to witness strong growth in the fiscal second quarter on a 13.3% rise in revenues at constant currency. In the quarter, North America Plasma revenues increased double-digits led by strength in disposables along with growing software revenues.

Haemonetics also continues to make investments to expand disposable capacity. During the reported quarter, the company finished validation of its new bottle line. Per management, the company is on track to complete and validate its new bowl line by the end of the fiscal 2019. Together, all of these are expected to raise Haemonetics’ disposable capacity by 50%.

We are also upbeat about Haemonetcs’ Hemostasis Management business which has been seeing strong growth in the past few quarters. Also, TEG has become the global leader in Hemostasis Management led by solid disposable growth and amplified TEG success capital sales. Double-digit sales growth in both TEG 5000 and TEG 6s disposables also encourages us.

The company’s launch of a product line extension, namely, TEG Manager 4.0, a software solution embedded with a new feature called the interpretation guidance module is also impressive.

Moreover, the fiscal 2019 guidance looks promising. In addition, the company’s strong cash position boosts investors’ confidence.

Other Key Picks

Other top-ranked stocks in the broader medical space are Stryker Corporation (NYSE:SYK) , Masimo Corporation (NASDAQ:MASI) and Veeva Systems (NYSE:VEEV) .

Stryker has a long-term expected earnings growth rate of 10% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Masimo’s long-term earnings growth rate is projected at 14.6%. The stock carries a Zacks Rank #2.

Veeva Systems’ long-term earnings growth rate is estimated at 19.3%. The stock carries a Zacks Rank #2.

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