Haemonetics Expands Business with Strong Growth Drivers and Zacks Rank #1
Haemonetics (HAE) is on a path of expansion and growth, with a focus on key drivers like Plasma, Thromboelastography (TEG), Hemostasis Management, and the Vascular Closure business. The company’s stock is currently rated as a Zacks Rank #1 (Strong Buy), indicating strong potential for investors.
The Plasma business unit of Haemonetics is thriving, with a focus on collecting source plasma for pharmaceutical manufacturers using specialized apheresis devices. The demand for source plasma is on the rise due to the growing market for plasma-derived biopharmaceuticals. Additionally, the company offers software solutions to support the operations of dedicated source plasma collection centers.
In the fourth quarter of fiscal 2024, Plasma revenues grew by 6%, driven by disposable volume and software. The company’s newly-launched Express Plus technology is gaining traction, with over 60,000 real-world collections already completed. The rollout of Persona, another proprietary technology, is also showing promising results with increased yield rates.
Haemonetics’ hospital portfolio is also evolving, creating new growth opportunities and diversification. The company’s focus on helping hospitals and clinicians provide high-quality patient care while reducing costs is resonating well in the market.
Despite the positive growth trajectory, Haemonetics faces challenges related to inflationary pressures, rising interest rates, and macroeconomic conditions. The company has implemented cost-containment measures to mitigate these challenges, but there is still a risk of increased operational costs.
Overall, Haemonetics is positioned for growth and success in the medical space. Other top-ranked stocks in the industry include Medpace (MEDP), ResMed (RMD), and Encompass Health Corporation (EHC), each offering strong potential for investors. Investors looking for promising opportunities in the medical sector should keep an eye on Haemonetics and its continued expansion efforts.