Haemonetics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Michael Petusky from Barrington maintained a Buy rating on the stock and has a $86.00 price target.
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Michael Petusky has given his Buy rating due to a combination of factors. Haemonetics has shown promising potential for recovery in its vascular closure franchise, despite recent setbacks. The company has taken strategic actions to address market share losses, including leadership changes and a more clinically focused sales force. These efforts are expected to lead to a significant recovery in the next few quarters.
Additionally, Haemonetics’ other business segments, such as plasma and hemostasis management, are performing well. The plasma segment has experienced mid-teens organic revenue growth, and hemostasis management has shown strong growth, particularly in the U.S. market. These factors, combined with a positive outlook for continued growth and strategic partnerships, support the Buy rating. The target price of $86 reflects confidence in the company’s ability to achieve its financial goals.