Haemonetics’ fourth quarter results were met with a negative market reaction, reflecting investor caution despite the company’s performance exceeding Wall Street’s revenue and earnings expectations. Management attributed the revenue decline primarily to ongoing softness in Interventional Technologies, particularly in esophageal cooling and vascular closure, while highlighting continued strength in Blood Management Technologies and Plasma. CEO Christopher Simon noted, “We delivered a strong quarter… Nexus and TEG delivered outsized growth driven by sustained share gains, innovation-based pricing, and durable end-market demand.” This contrast between robust plasma growth and hospital segment challenges was a focal point in management’s commentary.
Is now the time to buy HAE? Find out in our full research report (it’s free for active Edge members).
Haemonetics (HAE) Q4 CY2025 Highlights:
- Revenue: $339 million vs analyst estimates of $331.1 million (2.7% year-on-year decline, 2.4% beat)
- Adjusted EPS: $1.31 vs analyst estimates of $1.25 (4.8% beat)
- Adjusted EBITDA: $109.7 million vs analyst estimates of $108.7 million (32.4% margin, 0.9% beat)
- Management raised its full-year Adjusted EPS guidance to $4.95 at the midpoint, a 1% increase
- Operating Margin: 19.9%, up from 16.9% in the same quarter last year
- Organic Revenue rose 1.2% year on year (beat)
- Market Capitalization: $2.67 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Haemonetics’s Q4 Earnings Call
- Rohin Patel (JPMorgan) asked about the sustainability of plasma share gains; CEO Christopher Simon detailed the “trifecta” of share, price, and volume, and expressed confidence in ongoing demand but deferred specific forward guidance.
- Marie Thibault (BTIG) questioned the timeline and competitive landscape for Interventional Technologies’ recovery; Simon emphasized investments in sales force and confidence in product differentiation, while expecting growth to resume next year.
- Joanne Wuensch (Citi) inquired about the VIVUSHORE acquisition’s impact; Simon described its potential to expand leadership in vascular closure, targeting structural heart procedures, and outlined a measured launch strategy.
- David Rescott (Baird) pressed on visibility into plasma market cycles; Simon referenced strong end-market demand and the cyclical nature of plasma collections but stated guidance would reflect only controllable factors.
- Anthony Petrone (Mizuho) probed growth opportunities in ambulatory surgery centers (ASCs); Simon discussed enhanced corporate account capabilities and the potential for vascular closure products to gain share in this channel.
Catalysts in Upcoming Quarters
Looking ahead, our analysts will watch (1) the pace of recovery in Interventional Technologies, particularly with the launch of PercuSeal Elite and MVP XL label expansion, (2) sustained plasma growth and market share gains, and (3) the company’s ability to maintain operating margin improvements amid product mix changes. Execution on R&D investments and integration of recent acquisitions will also be critical signposts.
Haemonetics currently trades at $57.49, down from $65.95 just before the earnings. At this price, is it a buy or sell? The answer lies in our full research report (it’s free).
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