Haemonetics climbs on strong Q2 results, raises FY forecast

Haemonetics

07/11/2022 13:28

** Shares of healthcare company Haemonetics Corp  HAE.N  up
4.14% at $84 in premarket trading
    ** Stock set to open at highest in nearly a week
    ** Co raises FY23 revenue growth forecast to between 12% and
15% from 8% to 11% earlier, and adj EPS forecast to between $2.7
and $3 from $2.6 to $2.9 
    ** Reports Q2 revenue of $297.5 mln, up 24% y-o-y and above
analysts' expectations of $269.2 mln - Refinitiv IBES data
    ** HAE reports better-than-expected Q2 adj EPS of 83 cents
    ** Q2 gross margin grows to 53.1% from 51.1% a year earlier
    ** Five of eight brokerages rate the stock "buy" or higher
and three "hold"; their median PT is $88
    ** Up to last close, stock had risen 52.07% YTD vs a 15.4%
decline in the S&P 400 Mid Cap Index  .IDX 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))