On Nov 30, we issued an updated research report on Haemonetics Corporation HAE. The company has been witnessing recovery in Hemostasis Management units for quite some time now. The stock currently carries a Zacks Rank #3 (Hold).
Over the past three months, Haemonetics has outperformed its industry. The stock has gained 26.8% compared with the industry's 2.2% growth.
Haemonetics exited the second quarter of fiscal 2021 with better-than-expected results. The Hospital business witnessed an uptick in segmental revenues of 2% on an organic basis. In the Hemostasis Management product line, organic revenue growth was 4.1%. This was driven by strong U.S. disposable sales.
The product line had benefited from strong capital equipment sales in the fiscal first quarter, followed by strong sales of TEG cartridges in the second quarter, which drove the overall product line up 3% till the end of the second quarte