Michael Matson, an analyst from Needham, maintained the Buy rating on Haemonetics. The associated price target was lowered to $68.00.
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Michael Matson has given his Buy rating due to a combination of factors that highlight Haemonetics’ financial performance and strategic adjustments. The company exceeded expectations in both revenue and earnings per share for the first quarter of fiscal year 2026, which is a positive indicator of its financial health. Despite a decline in plasma sales, there was a significant growth in sales excluding CSL, supported by a one-time software sale, demonstrating potential in other areas of the business.
Furthermore, Haemonetics has shown improvement in its gross and operating margins year-over-year, suggesting better cost management and operational efficiency. Although there are challenges in the Interventional Technologies segment, the company is actively addressing them through leadership and sales force changes. Despite a reduction in the price target, the overall performance and strategic initiatives justify a Buy rating, as these efforts are expected to enhance future growth and profitability.
According to TipRanks, Matson is an analyst with an average return of -7.4% and a 36.95% success rate. Matson covers the Healthcare sector, focusing on stocks such as TransMedics Group, Merit Medical Systems, and Establishment Labs Holdings.