Balyasny Asset Management L.P. Purchases Shares of 49,250 Haemonetics Co. (NYSE:HAE)

Balyasny Asset Management L.P. purchased a new position in shares of Haemonetics Co. (NYSE:HAE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,250 shares of the medical instruments supplier's stock, valued at approximately $3,845,000. Balyasny Asset Management L.P. owned 0.10% of Haemonetics at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Thrivent Financial for Lutherans raised its position in shares of Haemonetics by 14.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,264,294 shares of the medical instruments supplier's stock worth $98,716,000 after purchasing an additional 164,111 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Haemonetics by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 992,229 shares of the medical instruments supplier's stock worth $77,470,000 after purchasing an additional 10,990 shares during the period. Boston Trust Walden Corp raised its position in shares of Haemonetics by 13.1% during the fourth quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock worth $71,500,000 after purchasing an additional 106,114 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Haemonetics by 0.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 801,049 shares of the medical instruments supplier's stock worth $62,802,000 after purchasing an additional 5,668 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Haemonetics by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 711,774 shares of the medical instruments supplier's stock worth $55,575,000 after purchasing an additional 22,265 shares during the period. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Price Performance

NYSE HAE traded down $0.84 on Wednesday, hitting $68.30. 521,047 shares of the company's stock were exchanged, compared to its average volume of 696,843. Haemonetics Co. has a 52 week low of $55.30 and a 52 week high of $97.97. The stock has a 50-day moving average of $62.85 and a 200-day moving average of $71.30. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 1.11 and a beta of 0.32.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. The company had revenue of $330.60 million during the quarter, compared to analysts' expectations of $329.38 million. During the same quarter in the previous year, the firm earned $0.90 EPS. Haemonetics's revenue was down 3.5% on a year-over-year basis. Analysts expect that Haemonetics Co. will post 4.55 earnings per share for the current year.

Wall Street Analyst Weigh In

HAE has been the topic of a number of recent research reports. Bank of America lowered Haemonetics from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $95.00 to $68.00 in a research report on Friday, February 7th. StockNews.com lowered Haemonetics from a "buy" rating to a "hold" rating in a research report on Tuesday. Raymond James reissued a "strong-buy" rating and issued a $105.00 target price (down previously from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Needham & Company LLC lowered their price target on Haemonetics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Barrington Research lowered their price target on Haemonetics from $108.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.89.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.