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Here's Why Haemonetics (HAE) is a Strong Growth Stock

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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Haemonetics (HAE)

Haemonetics Corporation provides blood management solutions to customers encompassing blood and plasma collectors, hospitals and health care providers globally. The company’s portfolio of integrated devices, information management, and consulting services offers blood management solutions for each facet of the blood supply chain, helping better clinical outcomes. Blood and its components (plasma, platelets, and red cells) have several vital and frequently life-saving clinical applications.

HAE sits at a Zacks Rank #1 (Strong Buy), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 17.2% and 6.6% year-over-year, respectively.

Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.26 to $3.55 per share for 2024. HAE boasts an average earnings surprise of 12.2%.

Haemonetics is also cash rich. The company has generated cash flow growth of 5.8%, and is expected to report cash flow expansion of 7.4% in 2024.

Investors should take the time to consider HAE for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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Haemonetics Corporation (HAE) : Free Stock Analysis Report

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Zacks Investment Research