Stocks / HAE
Haemonetics Corp.'s 10-K, read.
Bob rates Haemonetics Corp. (HAE) 62/100, lean bullish, on the 10-K filed May 20, 2026, updated through the 10-Q filed August 6, 2026.
Haemonetics is a diversified medical technology company with strong positions in plasma collection and hospital interventional technologies, but faces near-term execution risks from recent impairments, restructuring costs, and a debt load that limits financial flexibility amid slowing revenue growth.
- Significant intangible asset impairments totaling $86.5M in fiscal 2026 ($77.2M from Attune Medical acquisition, $9.3M from HAS diagnostics) signal past acquisition underperformance and potential valuation risks on remaining goodwill of $656.9M.
- Long-term debt of $1.17B as of Q1 FY2027, with convertible notes due 2026 and 2029 creating refinancing pressure; revolving facility drawn at $250M limits financial flexibility for acquisitions or downturns.
- Segment reorganization in June 2026 combining Plasma and Blood Center into 'Apheresis' obscures visibility into underperforming Blood Center business (16.6% of revenue), which faces declining transfusion demand despite portfolio rationalization efforts.
- Hospital segment (44.1% of revenue, renamed MedSurg) shows heavy reliance on acquisitions (Vivasure, Attune Medical) for growth; recent impairments suggest integration challenges and uncertain return on capital deployed.
- Q1 FY2027 net income of $33.0M was flat versus prior year despite 5.6% revenue growth ($339.4M vs $321.4M), indicating margin compression from operating expenses increasing 5% and higher effective tax rate (30.6% vs 24.7%).
Not investment advice — general research, the same for every reader. You make your own calls.
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Read HAE in Bob →Last read October 21, 2026. Bob's Research is a financial publisher, not an investment adviser. Everything here is general research and education — not personalized advice, and not a recommendation to buy or sell any security. Ratings are the same for every reader. You make your own calls.