HAE

AI MemoPost-earnings T+3

Haemonetics

As of 2026-05-09/Post-earnings T+3/Confidence medium

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Data freshness

AI Memo

As of 2026-05-09 • Model: RankAlpha Sentiment Codex

Decision Panel

Action, confidence, horizon, and decision blockers at a glance.

Action

—

Confidence

medium

Horizon

—

Key catalyst

Q4/FY26 print and FY27 guide support a near-term reset • 2026-08-01

Expected move: -12%

Biggest risk

The bear read is that the quarter still contained real quality issues beneath the headline: GAAP EPS was a loss, gross margin fell on Attune-related inventory charges and tariff pressure, Blood Center remains a drag, and proof of a sustained interventional recovery is still incomplete. As of this T+3 follow-up, delayed post-print analyst target and estimate revision visibility is limited, which lowers conviction.

Invalidation

Break below $46 or thesis failure.

What would change my mind?

The post-earnings bull read is that Haemonetics closed FY26 with better-than-feared core growth: Q4 adjusted EPS slightly beat the Zacks-based snapshot, FY27 guidance implies re-acceleration, and Hospital plus Plasma are carrying the portfolio while Vivasure adds another interventional growth leg.

Research note

Recommendation

—

Confidence

medium

As of

2026-05-09

Base target

$66

p=1%

Bull target

$78

p=0%

Bear target

$46

p=0%

Key bullets

Fast scan of bull, bear, and watch items

BullKey bullets

Core growth ex-CSL is improving, but investors still need proof it is durable
Hospital growth and Vivasure can offset legacy mix headwinds if execution holds
The post-earnings bull read is that Haemonetics closed FY26 with better-than-feared core growth: Q4 adjusted EPS slightly beat the Zacks-based snapshot, FY27 guidance implies re-acceleration, and Hospital plus Plasma are carrying the portfolio while Vivasure adds another interventional growth leg.

BearKey bullets

Adjusted gross margin also fell 50 bps, with less favorable mix and tariff impacts called out in the earnings release [#8-K-2026-05-07].
Cash on hand declined to $245.4 million, primarily due to the Vivasure acquisition and share repurchases, reducing balance-sheet cushion if execution slips [#8-K-2026-05-07].
Operating expenses jumped 81.8% year over year in Q4, driven by an Attune-related intangible impairment, which pushed the quarter to a GAAP operating loss [#8-K-2026-05-07].

WatchKey bullets

Q4/FY26 print and FY27 guide support a near-term reset

Summary

High-level snapshot

Recommendation

Model confidence

medium

Timeframe

Asset

Equity

Trigger

Post-earnings T+3

Base case: $66 (p=1%)

Bull/Bear spread: +4% / -39%

Vs latest close: Bull +4% · Base -12% · Bear -39%

Scenario probabilities

Bull Target: $78 (p=0%)Base Target: $66 (p=1%)Bear Target: $46 (p=0%)

Commentary

Tone improved modestly after earnings but did not become unequivocally bullish. The company source showed a clean FY27 guide and better core growth, trusted coverage framed the quarter as a slight EPS beat, and HAE was at $55.12 on May 8, 2026 versus the $54.37 May 7 anchor, about a 1.4% gain. Still, by this T+3 follow-up, fresh analyst revision evidence is thin, so the setup remains a cautious monitoring view rather than a confirmed rerating.

As of 2026-05-09 • Updated bi-weekly / post-earningsSource: Internal modelMethodology

Analyst Summary

Thesis highlights from the latest analysis

Bull Case

Bear Case

Drivers

Scannable catalysts and supporting factors

Core growth ex-CSL is improving, but investors still need proof it is durable
Hospital growth and Vivasure can offset legacy mix headwinds if execution holds

Scenarios

Bull Target (Scenario probability)

$78 / p=0% prob

Base Target (Scenario probability)

$66 / p=1% prob

Bear Target (Scenario probability)

$46 / p=0% prob

Price $75 as of 2026-07-09

Nearest Scenario: Bull (∆ 4%)

Targets vs latest close: Bull +4% · Base -12% · Bear -39%

Sentiment & Exposure

News Sentiment (30d)

0.18

Social Sentiment (7d)

0.00

Events

Other notable items detected

EVENT2026-08-01
Q4/FY26 print and FY27 guide support a near-term reset
Haemonetics reported Q4 FY26 revenue of $346.4 million, adjusted EPS of $1.29, and FY27 guidance for 4%-7% reported revenue growth, 3%-6% organic growth, 50-100 bps of adjusted operating margin expansion, and about 80% free-cash-flow conversion [#8-K-2026-05-07]. A trusted earnings snapshot also said adjusted EPS was modestly above the six-analyst Zacks average of $1.28.
Prob 70.00% • Move 8.00% • Priced-in 55.00%

Short-term Catalysts

Next few weeks

Core growth ex-CSL is improving, but investors still need proof it is durable
2026-08-01
Q4 organic revenue grew 4.5% and organic ex-CSL grew 8.6%, with Plasma up 2.8%, Blood Center up 0.7%, and Hospital up 8.0% [#8-K-2026-05-07]. That matters because the prior 10-Q said Haemonetics did not expect North America disposable sales to CSL Plasma in fiscal 2026 and had been working through that transition [#10-Q-2026-02-05].
Prob 60% • Move 6% • Priced-in 50%

Long-term Catalysts

Months to a year

Hospital growth and Vivasure can offset legacy mix headwinds if execution holds
2027-03-31
The February 2026 10-Q said Vivasure was acquired on January 9, 2026, expands Haemonetics in interventional cardiology, and that PerQseal Elite had a U.S. PMA submission plus European CE Mark for arterial and venous indications [#10-Q-2026-02-05]. Q4 results also showed Hospital revenue up 8.0%, with sequential improvement in Interventional Technologies and strength in Blood Management Technologies [#8-K-2026-05-07].
Prob 45% • Move 12% • Priced-in 30%

Risks

Adjusted gross margin also fell 50 bps, with less favorable mix and tariff impacts called out in the earnings release [#8-K-2026-05-07].
Cash on hand declined to $245.4 million, primarily due to the Vivasure acquisition and share repurchases, reducing balance-sheet cushion if execution slips [#8-K-2026-05-07].
Operating expenses jumped 81.8% year over year in Q4, driven by an Attune-related intangible impairment, which pushed the quarter to a GAAP operating loss [#8-K-2026-05-07].
Q4 gross margin fell to 57.2% from 58.4%, with management citing a pre-acquisition Attune inventory and purchase-commitment charge [#8-K-2026-05-07].
The February 2026 10-Q said Haemonetics did not expect North America disposable sales to CSL Plasma in fiscal 2026, so sustaining Plasma growth now depends on replacement demand and share gains [#10-Q-2026-02-05].
Vivasure's PerQseal Elite still carries regulatory and commercialization risk because the 10-Q said the system had been submitted for U.S. PMA and expansion assumptions depend on approval and uptake [#10-Q-2026-02-05].

Peers

Symbol	Summary
BSX	Boston Scientific is a broader hospital-device peer and a useful benchmark for interventional cardiology execution, but it is much larger and not a direct blood-management comp.
EW	Edwards Lifesciences is a closer structural-heart and procedure-volume benchmark for hospital-exposed medtech demand, though its portfolio is still broader and higher scale than HAE.
ABT	Abbott is a broad medtech benchmark rather than a direct peer, but it helps frame valuation and execution expectations for diversified device companies selling into hospitals.

Sources

Internal and external references used in this analysis

Model source: RankAlpha Sentiment Codex
Human targets: serper
Analysis date: 2026-05-09

AI Stock Memo: HAE - Haemonetics - RankAlpha