Blood Testing Device Maker Haemonetics Hits 52-Week High on Supply Agreement with CSL Plasma

Haemonetics Corp shares rose in midday trading Tuesday after the company announced a significant commercial agreement.

Haemonetics stock is challenging resistance levels. Why is HAE hitting new highs?

Key Terms and Implementation

The Boston-based medical technology provider disclosed it has entered into a supply agreement with CSL Plasma Inc., enabling CSL to adopt Haemonetics' NexSys PCS devices with Persona PLUS technology across its U.S. network.

Under the terms of the agreement finalized on August 14, CSL Plasma can use these advanced devices and purchase related single-use consumables at its U.S. collection centers. The arrangement is on a non-exclusive basis and includes no minimum purchase commitments. Haemonetics expects CSL to convert a portion of its domestic locations to the platform.

However, the company did not adjust its existing fiscal 2027 financial guidance. Management noted in a U.S. Securities and Exchange Commission filing that the specific scope and implementation timeline remain to be determined, with an official update on financial impact to be provided during the second-quarter earnings call in November.

Following the announcement, BTIG analyst Marie Thibault reiterated a Buy rating on Haemonetics stock and raised the company's price target from $96 to $110.

HAE Stock Surges in Midday Trading Tuesday

HAE stock performance: As of Tuesday's writing, Haemonetics shares were up 16.01% at $104.72. The stock is trading at a 52-week high.