Haemonetics announces executive departure By Investing.com

Haemonetics Corp . (NYSE:) disclosed today the departure of Anila Lingamneni, the company’s Executive Vice President and Chief Technology Officer, effective November 1, 2024. The company expressed appreciation for Lingamneni’s contributions and wished her well in future endeavors.

The Boston-based medical device company, known for its products in blood processing technology, made the announcement through an 8-K filing with the Securities and Exchange Commission. The filing did not provide a reason for Lingamneni’s departure or information about a successor.

The announcement comes as Haemonetics, which has its fiscal year end on March 29, continues to navigate the competitive landscape of the surgical and medical instruments sector. The company has not disclosed any additional changes to its executive team or business strategy in relation to this departure.

In other recent news, Haemonetics Corporation reported a 10% organic revenue increase in Q4 and a 12% rise for the fiscal year, with growth anticipated across its core plasma and hospital business units. The company also upsized its private offering to $600 million in convertible senior notes, exceeding the initially proposed $525 million. Haemonetics recently launched the VASCADE MVP XL venous closure system, gaining positive feedback during its limited market release.

The company also gained CE Mark certification for its SavvyWire® Pre-Shaped Pressure Guidewire (NYSE:), allowing product introduction to the European Union and other regions recognizing the CE Mark. BofA Securities and BTIG initiated coverage on Haemonetics with a Neutral and Buy rating, respectively, while Needham upgraded the company’s stock from Hold to Buy. Analysts’ projections suggest a potential for margin outperformance and growth in the company’s plasma and hospital segments.

InvestingPro Insights

As Haemonetics Corp. (NYSE:HAE) experiences changes in its executive ranks, investors might consider how the company’s financial health could support its ongoing strategy and operations. According to real-time data from InvestingPro, Haemonetics has a market capitalization of $3.94 billion and is trading at a P/E ratio of 34.21, which is high, indicating that the stock might be valued optimistically by the market. Despite this high earnings multiple, the company’s cash flows are robust enough to cover interest payments, and it has more liquid assets than short-term obligations, suggesting financial stability.

InvestingPro Tips underscore that analysts have revised their earnings estimates downwards for the upcoming period, which investors should take into account. However, it’s also noted that analysts predict Haemonetics will be profitable this year, a continuation of its profitability over the last twelve months. It’s worth mentioning that the company does not pay a dividend, which could influence investment decisions depending on individual investor’s income preferences. For those seeking a deeper dive into Haemonetics’ financials, InvestingPro offers additional tips and a fair value estimate, which can be found at https://www.investing.com/pro/HAE.

With a revenue growth of 9.47% in the last twelve months as of Q1 2025 and a gross profit margin of 54.65%, the company’s financial performance indicates solid operational efficiency. These metrics, along with the company’s recent executive shift, could be pivotal for investors assessing Haemonetics’ potential in the competitive medical device landscape.

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