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Haemonetics Strong on Plasma Unit Amid Blood Center Weakness
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On Aug 16, we issued an updated research report on Haemonetics Corporation (HAE - Free Report) . The company has been benefiting from the receipt of some major regulatory clearances for the Plasma business. However, sluggishness in the Blood Center business remains a concern. The stock carries a Zacks Rank #3 (Hold).
Shares of this leading provider of hematology products and solutions have outperformed its industry over the past year. The stock has skyrocketed 148.5% compared with the industry’s 16.6% rally.
Haemonetics has been witnessing strong growth in the Plasma franchise for quite some time now. Plasma continued to witness strong growth in the first quarter on a steady rise in revenues at constant currency. In the quarter, growth in North America Plasma revenues was led by strength in disposable kits and liquids sales which grew double-digits along with improved overall collection volumes, partially related to customer order timing.
In first-quarter fiscal 2019, the company received FDA approval for an additional sodium citrate manufacturing line along with an extra sterilizer to support liquids growth.
We are upbeat about Haemonetics’ strong progress with respect to the development and launch of NexSys PCS plasmapheresis system.
Further, continued momentum in new business generation and geographical expansion has helped drive results. A strong cash position boosts investors’ confidence.
Meanwhile, Haemonetics has been seeing sluggish revenue growth at its Blood Center franchise, thanks to several adverse factors. Notably, all elements of the company’s Blood Center business, viz, Whole Blood, Red Cells, Platelets, and Equipment Software and other, fell below 5% in the fiscal first quarter.
Also, management doesn’t expect a quick recovery in the Blood Center’s outcome, making matters even worse. Further, the uncertain economic scenario continues to be a challenge.
Intuitive Surgical’s long-term expected earnings growth rate is 14.7%. The stock carries a Zacks Rank #2 (Buy).
Inogen’s long-term expected earnings growth rate is 24.5%. The stock has a Zacks Rank #2.
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Haemonetics Strong on Plasma Unit Amid Blood Center Weakness
On Aug 16, we issued an updated research report on Haemonetics Corporation (HAE - Free Report) . The company has been benefiting from the receipt of some major regulatory clearances for the Plasma business. However, sluggishness in the Blood Center business remains a concern. The stock carries a Zacks Rank #3 (Hold).
Shares of this leading provider of hematology products and solutions have outperformed its industry over the past year. The stock has skyrocketed 148.5% compared with the industry’s 16.6% rally.
Haemonetics has been witnessing strong growth in the Plasma franchise for quite some time now. Plasma continued to witness strong growth in the first quarter on a steady rise in revenues at constant currency. In the quarter, growth in North America Plasma revenues was led by strength in disposable kits and liquids sales which grew double-digits along with improved overall collection volumes, partially related to customer order timing.
In first-quarter fiscal 2019, the company received FDA approval for an additional sodium citrate manufacturing line along with an extra sterilizer to support liquids growth.
We are upbeat about Haemonetics’ strong progress with respect to the development and launch of NexSys PCS plasmapheresis system.
Further, continued momentum in new business generation and geographical expansion has helped drive results. A strong cash position boosts investors’ confidence.
Meanwhile, Haemonetics has been seeing sluggish revenue growth at its Blood Center franchise, thanks to several adverse factors. Notably, all elements of the company’s Blood Center business, viz, Whole Blood, Red Cells, Platelets, and Equipment Software and other, fell below 5% in the fiscal first quarter.
Also, management doesn’t expect a quick recovery in the Blood Center’s outcome, making matters even worse. Further, the uncertain economic scenario continues to be a challenge.
Key Picks
A few better-ranked stocks in the broader medical space are Amedisys, Inc. (AMED - Free Report) , Intuitive Surgical (ISRG - Free Report) and Inogen, Inc. (INGN - Free Report) .
Amedisys’ expected long-term earnings growth rate is 18.9%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s long-term expected earnings growth rate is 14.7%. The stock carries a Zacks Rank #2 (Buy).
Inogen’s long-term expected earnings growth rate is 24.5%. The stock has a Zacks Rank #2.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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