Zacks Investment Research Downgrades Halyard Health Inc. (HYH) to Hold
Halyard Health Inc. (NYSE:HYH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Halyard Health, Inc. is a medical technology company. It is focused on advancing health and healthcare by preventing infection, eliminating pain and speeding recovery. The Company sells surgical and infection prevention products for the operating room. Halyard offers products such as sterilization wraps, face masks, surgical drapes and gowns, closed suction catheters, pain pumps and enteral feeding tubes. It offers a range of medical device solutions including post-operative pain management solutions, minimally invasive interventional (or chronic) pain therapies, closed airway suction systems, and enteral feeding tubes. Halyard Health, Inc. is headquartered in Alpharetta, Georgia. “
Several other brokerages also recently weighed in on HYH. Deutsche Bank AG raised their price target on Halyard Health from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Stifel Nicolaus raised their price target on Halyard Health from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, TheStreet raised Halyard Health from a “sell” rating to a “hold” rating in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Halyard Health presently has an average rating of “Hold” and a consensus target price of $34.20.
Shares of Halyard Health (NYSE:HYH) opened at 34.14 on Wednesday. The stock’s market capitalization is $1.59 billion. The company has a 50-day moving average of $35.39 and a 200 day moving average of $32.58. Halyard Health has a 12-month low of $22.76 and a 12-month high of $37.31.
Halyard Health (NYSE:HYH) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. The business earned $400 million during the quarter, compared to the consensus estimate of $383.08 million. Halyard Health had a positive return on equity of 8.91% and a negative net margin of 27.63%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. Analysts predict that Halyard Health will post $1.82 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of Halyard Health by 1.9% in the second quarter. IFP Advisors Inc now owns 3,141 shares of the company’s stock valued at $102,000 after buying an additional 58 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Halyard Health during the second quarter valued at $104,000. LS Investment Advisors LLC boosted its position in shares of Halyard Health by 25.6% in the second quarter. LS Investment Advisors LLC now owns 3,241 shares of the company’s stock valued at $105,000 after buying an additional 661 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Halyard Health during the second quarter valued at $109,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Halyard Health during the second quarter valued at $182,000. 82.94% of the stock is owned by hedge funds and other institutional investors.
About Halyard Health
Halyard Health, Inc seeks to advance health and healthcare by preventing infection, eliminating pain and speeding recovery. The Company operates through two segments: Surgical and Infection Prevention (S&IP) and Medical Devices. Its S&IP business provides healthcare supplies and solutions that target the prevention of healthcare associated infections.
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