What Happened?
Shares of blood products company Haemonetics (NYSE: HAE) jumped 4.1% in the afternoon session after BofA Securities upgraded its rating on the company to Buy from Neutral and raised its price target to $80 from $72.
The analyst cited stronger performance in the company's vascular closure business and steady demand for plasma, which could lead to more growth. According to the bank, Haemonetics has set conservative financial guidance for the upcoming year, making better-than-expected results likely.
For example, while U.S. plasma collections grew in the high single digits in the most recent fiscal quarter, the company's guidance incorporates only 0-2% growth. The upgrade also follows the company's recent earnings report, where it surpassed analyst expectations for both revenue and earnings per share, reinforcing confidence in its performance.
After the initial pop the shares cooled down to $64.06, up 3.4% from previous close.
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What Is The Market Telling Us
Haemonetics’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 7 months ago when the stock gained 22.1% on the news that the company reported third-quarter results that surpassed analyst expectations and raised its full-year financial guidance.
The medical technology firm posted adjusted earnings of $1.27 per share on revenue of $327.3 million, with both figures comfortably beating Wall Street's forecasts. While total revenue declined 5.3% year-on-year, the company's organic revenue fell only 1.8%, which was significantly better than the 5.3% decline analysts had anticipated, signaling resilience in its core operations.
Furthermore, Haemonetics demonstrated strong profitability and cash generation. Its operating margin expanded to 17.9% from 15% in the same quarter last year, and free cash flow was a robust $106.3 million. Bolstered by the strong performance, management lifted its full-year adjusted earnings per share guidance to a midpoint of $4.90.
Haemonetics is down 19.9% since the beginning of the year, and at $64.06 per share, it is trading 26.5% below its 52-week high of $87.16 from December 2025. Despite the year-to-date decline, investors who bought $1,000 worth of Haemonetics’s shares 5 years ago would now be looking at an investment worth $1,150.
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