Haemonetics Corporation Q2 Results: EPS and Revenue Beat Expectations

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Haemonetics Corporation ($NYSE:HAE) is a global medical technology company focused on improving blood management for patients and healthcare providers. The company recently released their Q2 results, with Non-GAAP EPS of $0.83, beating analyst expectations by $0.16. Revenue also came in at $297.48M, beating estimates by $28.26M. The company updated its previous fiscal 2023 GAAP total revenue growth guidance from 8% 11% to 12% 15% vs. consensus growth of 10%. This strong performance was driven by strong results in all three of the company’s business segments: Plasma, Whole Blood, and Cell Therapy.

In the Plasma segment, revenue grew 11% year-over-year, driven by higher demand for plasma-based therapies. In the Whole Blood segment, revenue grew 8% year-over-year, driven by higher demand for whole blood products. Looking ahead, Haemonetics is well positioned to continue its strong performance, with a strong product portfolio and growing demand for its products and services.

Market Price

On Monday, Haemonetics Corporation stock opened at $84.5 and closed at $83.6, up by 3.6% from prior closing price of 80.7. The company announced its quarterly results, with EPS and revenue beating expectations. Haemonetics Corporation is a medical technology company that provides blood management solutions.

VI Analysis

The company’s fundamentals reflect its long term potential. However, the company is considered a high risk investment due to its financial and business aspects. The VI App has detected 4 risk warnings in income sheet, balance sheet, cashflow statement, and non financial areas.

VI Peers

The company has a wide range of products, including plasma collection systems, platelet and plasma pheresis systems, and whole blood collection systems. Haemonetics Corp. also provides services related to blood and plasma collection, such as plasma processing and storage, platelet and white blood cell processing, and whole blood processing. The company has a strong presence in the United States, Europe, Asia, and Australia. Merit Medical Systems Inc, Lagis Enterprise Co Ltd, StatSure Diagnostic Systems Inc are some of the major competitors of Haemonetics Corp.

– Merit Medical Systems Inc ($NASDAQ:MMSI)

Medtronic is a medical device company that develops and manufactures a wide range of products, from pacemakers to artificial hearts. The company has a market cap of $3.9 billion and a return on equity of 4.51%. Medtronic’s products are used by millions of people around the world, and the company is a leading provider of medical devices and services.

– Lagis Enterprise Co Ltd ($TPEX:6730)

Lagis Enterprise Co Ltd is a publicly traded company with a market capitalization of 1.02 billion as of 2022. The company has a return on equity of 12.12%. Lagis Enterprise Co Ltd is a diversified holding company that operates in a variety of industries, including construction, real estate, hospitality, and retail. The company has a strong presence in Taiwan and China, and its products and services are also available in North America, Europe, and Asia.

– StatSure Diagnostic Systems Inc ($OTCPK:SSUR)

StatSure Diagnostic Systems Inc is a company that manufactures and sells diagnostic products and services. The company has a market cap of 107.06k as of 2022 and a Return on Equity of 15.2%. The company’s products and services are used by healthcare professionals to diagnose and treat patients.

Summary

If you’re interested in investing in Haemonetics Corporation, you may want to consider the company’s recent financial results. This positive news caused the stock price to move up on the same day. When investing in a company, it’s always important to do your own research. But Haemonetics Corporation’s strong financial results may make it a stock worth considering for your portfolio.