Why Is HAEMONETICS CORP MAS (HAE) Stock Up Today?

Haemonetics Corp (HAE) surged 15.46% to $104.23 in early trading on August 18, driven by a supply agreement with CSL Limited and an upgraded price target from BofA. The stock opened with a 4.4% gap up and reached a session high of $106.87 shortly after the market opened. The move reflects renewed investor interest in the medical technology company following key developments in its business strategy.

What Happened

The stock’s sharp rise was triggered by news that Haemonetics has reached a supply agreement with CSL Limited, an Australian biopharma company. Under the agreement, CSL will use Haemonetics’ NexSys PCS devices with Persona PLUS technology in the U.S. The deal allows CSL to purchase related disposables but is non-exclusive and does not include minimum purchase commitments. The company also filed a Form 8-K with the SEC, disclosing the arrangement under Regulation FD. Separately, BofA raised its price target for HAE to $120 from $100, signaling confidence in the company’s near-term trajectory.

What The Data Shows

The stock opened at $94.24 and traded as high as $106.87, reaching a new 52-week high. Volume so far was 0.2 million shares, matching the 3-month average. The stock has traded between $47.31 and $92.25 over the past year, and the current price of $104.23 has now printed three fresh 52-week highs on the session. The move is notable given the company’s low beta of 0.52, suggesting it typically trades with less volatility than the broader market.

What To Watch

Haemonetics has no scheduled earnings report in the immediate outlook. Investors will want to monitor the breadth of coverage and whether the supply agreement with CSL translates into broader industry adoption of its technology.