# Haemonetics Corporation (HAE)

> Source: Nexqual · https://nexqual.com/HAE · data as of 2026-10-23 13:30 UTC · cite as "Nexqual, Haemonetics Corporation (HAE), nexqual.com/HAE" · informational, not investment advice.

**Price:** USD 115.59 (-0.51% today) · US market open, as of October 23, 2026 at 13:30 UTC; quotes may be delayed. Prev close 116.19 · day 115.49–116.23 · 52w 48.98–123.77 · market cap $5.26B · NYQ

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $1.35B, net income $96.3M (7.1% margin), free cash flow $291M (SEC filings).
- Valuation: P/E 54.6x (avg 28.0x at the last 3 fiscal year-ends), EV/EBITDA 23.0x, net debt $965M.
- 1 of 80 tracked superinvestors hold HAE (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.82 on a 1–5 scale) (11 analysts), mean target USD 124.5 (range 86–142).
- Total return with dividends: 1Y +125.1% vs S&P 500 +14.9%; 5Y +68.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.29, revenue estimate $345M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $993M | $1.17B | $1.31B | $1.36B | $1.33B | $1.35B |
| Gross profit | $506M | $615M | $692M | $749M | $788M | — |
| Operating income | $80.8M | $156M | $165M | $222M | $157M | $160M |
| Net income | $43.4M | $115M | $118M | $168M | $97.3M | $96.3M |
| EPS (diluted) | $0.84 | $2.24 | $2.29 | $3.31 | $2.05 | — |
| Free cash flow | $75.8M | $81.7M | $144M | $142M | $260M | $291M |
| Gross margin | 50.9% | 52.6% | 52.8% | 55.0% | 59.0% | — |
| Operating margin | 8.1% | 13.4% | 12.6% | 16.3% | 11.7% | 11.9% |
| Net margin | 4.4% | 9.9% | 9.0% | 12.3% | 7.3% | 7.1% |
| Revenue growth | +14.1% | +17.7% | +12.0% | +4.0% | -2.0% | — |
| Cash + short-term investments | $259M | $284M | $179M | $307M | $245M | — |
| Total debt | $774M | $766M | $808M | $1.22B | $1.24B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 54.6x · P/S 3.9x · EV/EBITDA 23.0x · EV/Sales 4.6x · P/FCF 18.1x · P/B 6.3x · FCF yield 5.54% · Earnings yield 1.83% · Net debt $965M · EV $6.22B
P/E at fiscal year-ends: Mar 2026 27.4x, Mar 2025 19.2x, Mar 2024 37.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold HAE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| John Rogers | Ariel Investments | 1.54% | $155M | New position |

## Analysts
Consensus Buy (mean 1.82 on a 1–5 scale), 11 analysts; mean target USD 124.5 (low 86, high 142).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Barrington Research | Target raised | Outperform | $118 → $140 |
| 2026-10-09 | Mizuho | Target raised | Outperform | $95 → $140 |
| 2026-10-08 | BTIG | Target raised | Buy | $110 → $130 |
| 2026-09-17 | Citigroup | Upgrade | Neutral → Buy | $92 → $123 |
| 2026-09-03 | Raymond James | Target raised | Outperform | $105 → $125 |
| 2026-08-21 | Baird | Target raised | Outperform | $96 → $119 |
| 2026-08-19 | Barrington Research | Target raised | Outperform | $95 → $118 |
| 2026-08-18 | BTIG | Target raised | Buy | $96 → $110 |
| 2026-08-07 | Citigroup | Target raised | Neutral | $79 → $92 |
| 2026-08-07 | JP Morgan | Target raised | Neutral | $62 → $86 |
| 2026-08-06 | BTIG | Target raised | Buy | $84 → $96 |
| 2026-07-15 | Mizuho | Target raised | Outperform | $85 → $90 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +125.1% | +68.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +125.2% | +11.0% |
| Volatility (annualized) | 48.3% | 43.2% |
| Max drawdown | -40.1% (Dec 2025→May 2026) | -49.8% (May 2024→Sep 2025) |

## Peers (Medical Devices)
LIVN (LivaNova PLC) USD 80.97 -0.37% · ITGR (Integer Holdings Corporation) USD 126.56 -0.11% · IRTC (iRhythm Holdings, Inc.) USD 119.88 +0.20% · BRKR (Bruker Corporation) USD 56.24 -1.87% · TXG (10x Genomics, Inc.) USD 68.75 -1.43% · BIO (Bio-Rad Laboratories, Inc.) USD 362.18 -0.36%

## More
Full page: https://nexqual.com/HAE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in HAE's own 10-K filed 2026-05-20 (https://www.sec.gov/Archives/edgar/data/313143/000031314326000050/hae-20260328.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Offshore International | "In addition, we manufacture our VASCADE vascular closure devices under a shelter plan service agreement with Offshore International Incorporated (d/b/a Tetakawi) pursuant to which we lease our manufacturing facility in G…" |
| Partner | Vivasure Medical | "We have sought and in the future may seek to supplement our organic growth through strategic acquisitions, investments and alliances, including our acquisitions of Vivasure Medical Limited, OpSens Inc. and Attune Medical…" |
| Partner | OpSens | "We have sought and in the future may seek to supplement our organic growth through strategic acquisitions, investments and alliances, including our acquisitions of Vivasure Medical Limited, OpSens Inc. and Attune Medical…" |

Other companies that name HAE in their own reports (relationship from HAE's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Orchestra BioMed Holdings, Inc. (OBIO) | 10-K 2026-03-12 | "The amount and timing of our future funding requirements are dependent on many factors, including the cost and pace of execution of clinical studies and research and development activities, the streng…" |

## Revenue by business segment (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Apheresis | $191.3M | 56.4% | +5.3% | $56.5M | 29.6% |
| MedSurg | $148.1M | 43.6% | +6.0% | $22.7M | 15.3% |
| Corporate costs (not allocated) | — | — | — | $57.5M | — |
| Total revenue | $339.4M | 100% | — | $57.5M | 16.9% |

## Revenue by product line (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Plasma | $155.5M | 45.8% | +7.2% |
| Blood Management Technologies | $88.1M | 26.0% | +8.6% |
| Interventional Technologies | $59.9M | 17.7% | +2.5% |
| Other | $35.8M | 10.5% | -2.4% |
| Total revenue | $339.4M | 100% | — |

## Revenue by region (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| UNITED STATES | $257.8M | 76.0% | +6.4% |
| Europe | $45.5M | 13.4% | +11.4% |
| Rest of Asia | $20.2M | 5.9% | -6.9% |
| Japan | $12.9M | 3.8% | -5.8% |
| Other | $3.0M | 0.9% | +6.2% |
| Total revenue | $339.4M | 100% | — |

## Customer concentration

Period ended 2026-03-28: 13% of revenue from unnamed direct customers (10-K, filed 2026-05-20).

## Company outlook (8-K filed 2026-08-06)

- "We raised full-year guidance, and Haemonetics is well-positioned to deliver sustainable long-term growth and shareholder value." 1 GAAP RESULTS First quarter fiscal 2027 revenue was $339.4 million, up 5.6% compared with the first quarter of fiscal 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.29 | $1.27 | +1.3% | $345.1M | 11 |
| Next quarter (ends 2026-12-31) | $1.36 | $1.39 | -2.0% | $357.6M | 11 |
| Current fiscal year (ends 2027-03-31) | $5.31 | $5.22 | +1.8% | $1.42B | 11 |
| Next fiscal year (ends 2028-03-31) | $5.78 | $5.63 | +2.7% | $1.50B | 11 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±11.7%; last 8 reports averaged ±14.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 52.0% | ±11.7% |
| 2026-12-18 | 56 | 43.2% | ±13.6% |
| 2027-01-15 | 84 | 41.4% | ±15.9% |
| 2027-03-19 | 147 | 44.0% | ±22.2% |
| 2027-06-17 | 237 | 43.4% | ±27.8% |