Last Update 10 Mar 26

HAE: Vivasure Deal And 2026 Outlook Will Support Earnings Quality

Analysts have modestly adjusted their views on Haemonetics, with several firms trimming price targets by $10 to $18 and one small $1 upward revision. These changes reflect updated assumptions on valuation multiples, while fair value and key model inputs remain broadly unchanged.

Analyst Commentary

Recent research updates on Haemonetics cluster around valuation tweaks rather than outright changes in conviction, with most price targets adjusted in a relatively narrow band.

Bullish Takeaways

Bullish analysts who lifted targets highlight the acquisition of Vivasure Medical Limited as a potential support for long term growth in new product areas, which they see as additive to the existing portfolio.
The modest US$3 price target move around the Vivasure deal suggests some view that the acquisition can reasonably fit into existing models without requiring aggressive execution assumptions.
Supportive views generally indicate confidence that management can integrate Vivasure while maintaining the core business focus, which matters for sustaining earnings quality.
Overall, the presence of at least one upward target revision, even as others trim, signals that some on the Street still see room for upside if the company delivers on its pipeline and acquisition thesis.

Bearish Takeaways

Bearish analysts cutting price targets by US$10 to US$18 are reassessing what they are willing to pay for the shares, pointing to valuation restraint rather than a reset of fundamental assumptions.
The size of some target reductions suggests caution around execution risk, including integrating Vivasure and delivering on any revenue or margin goals that may be tied to the deal.
Lowered targets indicate concern that previous valuation multiples may have been too generous given current visibility on growth and profitability, even if core forecasts remain intact.
The clustering of downward revisions implies that some investors may now require stronger evidence of consistent performance before re rating the stock back toward prior target levels.

What's in the News

Haemonetics received U.S. FDA 510(k) clearance for the NexSys PCS Plasma Collection System with Persona PLUS technology, supported by a pivotal trial of over 30,000 plasma donations from nearly 3,000 donors, which showed a mid single digit percent increase in plasma collected per donation compared with Persona (Key Developments).
Persona PLUS is described as the next generation of the company’s proprietary Persona technology, tailoring plasma collection volumes to each donor with the aim of improving average plasma volume per visit (Key Developments).
From September 28, 2025 to December 27, 2025, the company reported no additional share repurchases, and stated that it has completed a total buyback of 1,430,579 shares, representing 2.97% of shares, for US$75 million under the program announced on May 8, 2025 (Key Developments).
Haemonetics issued earnings guidance for the first quarter of 2026, with expected total revenue between US$300 million and US$310 million and product revenue between US$171 million and US$176 million (Key Developments).
For full year 2026, the company guided to total revenue in a range of US$1.215 billion to US$1.255 billion and product bookings between US$510 million and US$560 million (Key Developments).

Valuation Changes

Fair Value: stays at $88.0, indicating no change in the model’s central value estimate.
Discount Rate: falls slightly from 8.62% to 8.60%, a small adjustment to the required return used in the model.
Revenue Growth: remains effectively unchanged at about 5.38%, with only a minor decimal level update.
Net Profit Margin: is broadly stable at around 16.05%, with only a very small numerical refinement.
Future P/E: edges down slightly from 19.13x to 19.12x, reflecting a modestly lower valuation multiple in the model.

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Key Takeaways

Accelerated innovation, portfolio transformation, and software adoption are driving share gains, margin expansion, and sustained revenue growth across both plasma and hospital markets.
Demographic shifts and increased demand for blood management position core products for long-term growth, while targeted interventions aim to revitalize underperforming segments.
Heavy dependence on a few U.S.-focused products, intensifying competition, and limited global presence threaten earnings stability, market share, and long-term growth prospects.

Catalysts

About Haemonetics

A medical technology company, provides a suite of hospital technologies solutions in the United States and internationally.What are the underlying business or industry changes driving this perspective?

Rapid innovation and increased adoption of advanced plasma collection systems (NexSys with Persona and Express Plus), as well as new software contracts securing ~80% market share, are driving share gains and supporting double-digit organic growth ex-CSL in the plasma segment; these trends are expected to boost both revenue and net margins as upgrades and center conversions accelerate through FY26 and into FY27.
Rising utilization of TEG-based hemostasis management-fueled by the recent launch of the heparinase neutralization cartridge and ongoing conversion of hospital accounts from lab-based to point-of-care systems-positions the business to capture a greater share of a growing mid-single-digit US and global market, which should propel recurring revenue and support multi-year earnings growth.
Ongoing demographic shifts, such as an aging global population and increased prevalence of chronic diseases requiring more blood management and plasma-derived therapies, point toward a secular upward trend in long-term demand for Haemonetics' core products; this creates a sustained tailwind for revenue growth across hospital and plasma businesses.
Enterprise-wide portfolio transformation-highlighted by the divestiture of low-margin businesses, disciplined capital deployment, and ongoing investment in automation and digital solutions-is driving substantial gross and operating margin expansion (guidance of 26–27% for FY26) and is likely to support further improvements in net margins and free cash flow conversion.
Strategic execution to improve underperforming interventional technologies (notably VASCADE) via new leadership, targeted commercial initiatives, and a focus on higher margin and faster-growing market segments (like vascular closure for electrophysiology procedures) is expected to enable the segment to recover and contribute meaningfully to future revenue growth and margin expansion.

Haemonetics Future Earnings and Revenue Growth

Assumptions

How have these above catalysts been quantified?

Analysts are assuming Haemonetics's revenue will grow by 2.6% annually over the next 3 years.
Analysts assume that profit margins will increase from 12.1% today to 17.7% in 3 years time.
Analysts expect earnings to reach $257.9 million (and earnings per share of $4.92) by about September 2028, up from $163.3 million today. However, there is some disagreement amongst the analysts with the more bearish ones expecting earnings as low as $209.0 million.
In order for the above numbers to justify the analysts price target, the company would need to trade at a PE ratio of 16.3x on those 2028 earnings, up from 16.0x today. This future PE is lower than the current PE for the US Medical Equipment industry at 29.7x.
Analysts expect the number of shares outstanding to decline by 4.08% per year for the next 3 years.
To value all of this in today's terms, we will use a discount rate of 8.42%, as per the Simply Wall St company report.

Haemonetics Future Earnings Per Share Growth

Risks

What could happen that would invalidate this narrative?

Increasing competition in the vascular closure and interventional technology markets, including price-based competitors and legacy players, could pressure Haemonetics' market share, force price concessions, and negatively impact revenue and net margins if executional fixes do not restore growth above market rates.
Heavy reliance on three core products (NexSys, TEG, and VASCADE), each highly concentrated in the U.S. market, exposes Haemonetics to sales volatility and execution risk-especially if ongoing challenges with VASCADE persist or if a product loses relevance or encounters new regulatory hurdles, threatening earnings stability.
Temporary declines in plasma and blood center reported revenues-driven by divestitures and contractual transitions-may conceal underlying cyclicality or structural changes in the plasma collection market; over the long term, cyclicality and improved customer productivity could limit absolute volume growth, impacting revenue and earnings trajectory.
Failure to drive sustained growth and utilization in Interventional Technologies (especially VASCADE) despite management interventions could result in continued underperformance, weaker diversification, and less margin expansion than anticipated, ultimately constraining profitability and earnings growth.
Limited international footprint and dependence on U.S.-driven growth heighten exposure to potential U.S.-centric risks (regulatory, reimbursement, macroeconomic), while slower-than-expected adoption outside the U.S., delayed regulatory approvals, or local competition could cap total addressable market expansion and long-term revenue growth.

Valuation

How have all the factors above been brought together to estimate a fair value?

The analysts have a consensus price target of $78.636 for Haemonetics based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of $108.0, and the most bearish reporting a price target of just $58.0.
In order for you to agree with the analyst's consensus, you'd need to believe that by 2028, revenues will be $1.5 billion, earnings will come to $257.9 million, and it would be trading on a PE ratio of 16.3x, assuming you use a discount rate of 8.4%.
Given the current share price of $54.24, the analyst price target of $78.64 is 31.0% higher.
We always encourage you to reach your own conclusions though. So sense check these analyst numbers against your own assumptions and expectations based on your understanding of the business and what you believe is probable.

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Disclaimer

AnalystConsensusTarget is a tool utilizing a Large Language Model (LLM) that ingests data on consensus price targets, forecasted revenue and earnings figures, as well as the transcripts of earnings calls to produce qualitative analysis. The narratives produced by AnalystConsensusTarget are general in nature and are based solely on analyst data and publicly-available material published by the respective companies. These scenarios are not indicative of the company's future performance and are exploratory in nature. Simply Wall St has no position in the company(s) mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The price targets and estimates used are consensus data, and do not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that AnalystConsensusTarget's analysis may not factor in the latest price-sensitive company announcements or qualitative material.

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