BTIG on Haemonetics (HAE): FDA label expansion approval 'may help with contracting efforts'

BTIG analyst Marie Thibault reiterated a Buy rating and $88.00 price target on Haemonetics (NYSE: HAE)

The analyst commented, "This morning, we saw on the FDA's PMA database that Haemonetics received approval for a label expansion of Vascade MVP XL. The updated label allows MVP XL to be used for percutaneous closure of femoral venous access sites using procedural sheaths of 8F–14F Inner Diameter (max 17F outer diameter). The prior label allowed use in 10F ID to 12F ID/15F OD. The clearance comes roughly on schedule with our expectations, since HAE anticipated approval in Spring 2026. With the company focused on stabilizing its Vascular Closure business and an effort to pursue IDN-affiliated centers in the U.S., we think this formal label expansion may help with contracting efforts. We think the label expansion also gives the salesforce another opportunity to get in front of potential adopters, giving them the ability to sell into more procedures and discuss clinical data. This expanded label, along with the future launch of the recently acquired PerQSeal Elite, are expected to help the Interventional Technologies segment return to growth in FY27. Our estimates are not under review."

For an analyst ratings summary and ratings history on Haemonetics click here. For more ratings news on Haemonetics click here.

Shares of Haemonetics closed at $54.04 yesterday.

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