Haemonetics stock holds Buy rating at BTIG on plasma segment strength

Investing.com - BTIG reiterated its Buy rating and $88.00 price target on Haemonetics (NYSE:HAE) following a meeting with the company’s executive team at its Boston headquarters. The target represents about 17% upside from the current price of $75.12, with InvestingPro data showing the stock trading at a PEG ratio of just 0.49, indicating it’s undervalued relative to its growth rate.

The firm noted cautious optimism that sales leadership changes in the Interventional Technologies division and improving pricing dynamics could drive a recovery in vascular closure during the second half of fiscal year 2026.

BTIG highlighted that Haemonetics’ Plasma segment has outperformed investor expectations this fiscal year, driven by market share gains, pricing tailwinds, and volume increases in the most recent quarter.

The company’s fiscal 2026 guidance for Plasma of 14-17% year-over-year organic growth (excluding CSL) assumes only minimal volume growth of flat to 2% year-over-year, and only in the second half of the fiscal year.

Haemonetics has achieved margin expansion despite challenges in its IVT segment, with BTIG expecting stability and consistent execution to help accelerate the margin improvement, while viewing the stock as undervalued if commercial execution continues to recover.

In other recent news, Haemonetics reported strong second-quarter fiscal 2026 results, surpassing analyst expectations with adjusted earnings per share of $1.27 compared to the forecast of $1.11. The company also reported revenue of $327.3 million, exceeding the anticipated $311.5 million. Following these results, Haemonetics raised its guidance, which led Raymond James to increase its stock price target from $78.00 to $90.00, maintaining an Outperform rating.

Additionally, BofA Securities upgraded Haemonetics from Underperform to Neutral, highlighting the strong performance in the company’s plasma segment, which reported $125.4 million against expectations of $116.5 million. BTIG also raised its price target for Haemonetics to $88.00 from $85.00, keeping a Buy rating, driven by the company’s quarterly earnings beat. These developments reflect a positive outlook for Haemonetics, as noted by several analyst firms.

Overall, Haemonetics’ recent performance and raised guidance have been well-received by analysts, contributing to upgrades and increased price targets.

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