Haemonetics Corp Dossier - Source-backed chat

Haemonetics Corp

HAENYSE

SectorHealth Care

IndustryMedical Devices

Beta (adjusted)0.69

Intrinsic Value $73.49median of 6 methods · middle span $69-$82based on filings through 27 Jun 2026

Market Price $104.37Price as of 1 Oct 2026

OvervaluedIntrinsic value is 30% below the market price

−50% · IV below pricenear fair value ±15%IV above price · +50%

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Market Cap $4.7B

Enterprise Value $5.7B

Shares Outstanding 44.7M diluted

Moat Rating None

Next Earnings Date5 Nov 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

Haemonetics Corp (NYSE: HAE) has successfully completed its four-year long-range plan, transforming into a highly diversified and durable medical technology leader. Despite significant revenue headwinds from the wind-down of the CSL Plasma U.S. supply agreement and the sale of the Whole Blood product line, the company delivered strong organic growth of 9.5% (excluding CSL) in fiscal 2026. Growth is driven by robust demand for the NexSys PCS plasma collection system, Persona PLUS technology, and the high-growth VASCADE vascular closure portfolio. With conservative fiscal 2027 guidance and strong free cash flow generation, Haemonetics is well-positioned for continued market share gains and margin expansion.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets10 analysts · as of 18 Aug 2026

Low · most bearish analyst$86.00

Mean target$96.90

High · most bullish analyst$105.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

The bear case reflects potential market share erosion in the competitive plasma collection market, slower-than-anticipated adoption of new technologies, or integration delays with Vivasure. Inflationary pressures and tariff headwinds could also compress gross margins.

Base CaseCentral scenario

The base case assumes steady adoption of Persona PLUS and NexSys PCS systems in the Apheresis segment, alongside mid-single-digit growth in the MedSurg (formerly Hospital) segment. Operating margins expand gradually as transitional headwinds subside, and the company successfully integrates Vivasure Medical to bolster its vascular closure leadership.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Strong organic growth of 9.5% (ex-CSL) demonstrating robust underlying demand for core products.
Market leadership in plasma collection with the highly efficient NexSys PCS and Persona PLUS systems.
Expanding footprint in high-margin vascular closure through the VASCADE portfolio and Vivasure acquisition.
Excellent cash generation with fiscal 2026 free cash flow of $209.9 million, representing an 89% conversion of adjusted net income.

Key Investment Risks

Customer concentration in the plasma collection industry.
Intense competition in the vascular closure and blood center markets.
Macroeconomic headwinds, including inflationary pressures and potential tariff impacts on gross margins.

Thesis Invalidation Triggers

Loss of a major commercial plasma customer or significant reduction in collection volumes.
Failure to achieve regulatory clearances or commercial milestones for the Vivasure PerQseal portfolio.
Severe gross margin compression below 55% due to persistent supply chain or inflationary pressures.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

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Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.