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Haemonetics (HAE) Grows on New Products, Robust Plasma Sales
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On Nov 14, we issued an updated research report on Haemonetics Corporation (HAE - Free Report) . The company has been witnessing strong growth in Plasma and Hemostasis Management units for quite some time now. The stock currently carries a Zacks Rank #2 (Buy).
Shares of this leading provider of hematology products and solutions have outperformed its industry over the past six months. The stock has rallied 20.8% compared with the industry's 4.6% rise.
Haemonetics put up an impressive performance in the second quarter of fiscal 2020 with better-than-expected earnings and revenues. Per the company, benefits from complexity-reduction initiatives, strength in market demand and success from early launches of several products like NexSys and SafeTrace Tx helped the company make a huge progress.
Continued momentum in new business generation and geographical expansion also contributed to the company’s encouraging results. The early stages of the U.S. launch of TEG 6s also boosted its share price performance. In fact, this ongoing uptrend aided the company to project strong organic revenue growth for fiscal 2020.
Haemonetics has been witnessing a firm uptick in Plasma franchise for a while now. In the fiscal second quarter, this largest business segment of the company grew 14.6% on a 14.7% increase in North America, driven by price, volume and mix. The company completed more than 7 million YES procedures, resulting in 116,000 plus incremental leaders of plasma collected.
However, Haemoneticshas been witnessing sluggish revenue growth at its Blood Center franchise, thanks to several adverse factors. Blood Center revenues dipped 0.3% year over year in the fiscal second quarter.
However, the company has been actively focusing on contracting and pricing, distribution management, complexity reduction and making strategic investments like the launch of a double-dose protocol in Japan and the universal platelet protocol in EMEA as well as the Asia Pacific in order to stabilize the Blood Center business.
Other Key Picks
A few other top-ranked stocks in the broader medical space are Edwards Lifesciences Corporation (EW - Free Report) , NuVasive, Inc and GW Pharmaceuticals plc , each carrying a Zacks Rank of 2.
NuVasive has an expected long-term earnings growth rate of 10.9%.
GW Pharmaceuticals estimates fourth-quarter earnings growth rate at 67.9%.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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Haemonetics (HAE) Grows on New Products, Robust Plasma Sales
On Nov 14, we issued an updated research report on Haemonetics Corporation (HAE - Free Report) . The company has been witnessing strong growth in Plasma and Hemostasis Management units for quite some time now. The stock currently carries a Zacks Rank #2 (Buy).
Shares of this leading provider of hematology products and solutions have outperformed its industry over the past six months. The stock has rallied 20.8% compared with the industry's 4.6% rise.
Haemonetics put up an impressive performance in the second quarter of fiscal 2020 with better-than-expected earnings and revenues. Per the company, benefits from complexity-reduction initiatives, strength in market demand and success from early launches of several products like NexSys and SafeTrace Tx helped the company make a huge progress.
Haemonetics Corporation Price
Haemonetics Corporation price | Haemonetics Corporation Quote
Continued momentum in new business generation and geographical expansion also contributed to the company’s encouraging results. The early stages of the U.S. launch of TEG 6s also boosted its share price performance. In fact, this ongoing uptrend aided the company to project strong organic revenue growth for fiscal 2020.
Haemonetics has been witnessing a firm uptick in Plasma franchise for a while now. In the fiscal second quarter, this largest business segment of the company grew 14.6% on a 14.7% increase in North America, driven by price, volume and mix. The company completed more than 7 million YES procedures, resulting in 116,000 plus incremental leaders of plasma collected.
However, Haemoneticshas been witnessing sluggish revenue growth at its Blood Center franchise, thanks to several adverse factors. Blood Center revenues dipped 0.3% year over year in the fiscal second quarter.
However, the company has been actively focusing on contracting and pricing, distribution management, complexity reduction and making strategic investments like the launch of a double-dose protocol in Japan and the universal platelet protocol in EMEA as well as the Asia Pacific in order to stabilize the Blood Center business.
Other Key Picks
A few other top-ranked stocks in the broader medical space are Edwards Lifesciences Corporation (EW - Free Report) , NuVasive, Inc and GW Pharmaceuticals plc , each carrying a Zacks Rank of 2.
Edwards Lifesciences has a projected long-term earnings growth rate of 14.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NuVasive has an expected long-term earnings growth rate of 10.9%.
GW Pharmaceuticals estimates fourth-quarter earnings growth rate at 67.9%.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>