SharkNinja shares soar 11% as third quarter results crush expectations
Investing.com - Needham has lowered its price target on Haemonetics (NYSE:HAE) to $68.00 from $84.00 while maintaining a Buy rating on the stock. The company’s shares currently trade at $57.98, near their 52-week low of $55.30. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
The price target reduction follows Haemonetics’ fiscal first quarter 2026 results, which beat consensus estimates for both revenue and earnings per share. Despite the beat, management maintained its prior guidance. The company maintains a strong financial position with a GREAT overall health score, as indicated by InvestingPro’s comprehensive analysis, which includes 8 additional key insights available to subscribers.
Haemonetics reported improved organic growth of 0.5% in the first quarter, up from a 0.2% decline in the fourth quarter of fiscal 2025. Plasma sales declined 4% organically in the quarter, an improvement from the 9% organic decline in the previous quarter.
The company’s VASCADE product is facing increased competition, prompting leadership and sales force changes to improve performance. Haemonetics has made gross margin improvements, up 550 basis points year-over-year, while operating margin increased 300 basis points.
Needham’s new price target is based on a price-to-earnings multiple of 13.0 times the firm’s calendar year 2026 earnings per share estimate, reflecting concerns about deterioration in the company’s Interventional Technologies business.
In other recent news, Haemonetics Corporation announced its first-quarter fiscal year 2026 earnings, exceeding both earnings and revenue expectations. The company reported an earnings per share (EPS) of $1.10, which was 8.91% higher than the anticipated $1.01. Revenue also surpassed projections, reaching $321 million compared to the expected $302.62 million, marking a 6.2% increase. Despite these strong financial results, investor sentiment appeared cautious due to concerns about future growth prospects and market conditions. This sentiment was reflected in the stock’s performance in pre-market trading. These developments highlight the complexity of investor reactions to earnings reports and market forecasts. The company’s financial achievements are notable, yet they underscore the importance of broader market dynamics in shaping investor perceptions.
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