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 research note issued 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. “
HYH has been the topic of several other reports. Deutsche Bank AG increased their target price on shares of Halyard Health from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. TheStreet upgraded shares of Halyard Health from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Finally, Stifel Nicolaus increased their target price on shares of Halyard Health from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. 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 company’s stock. The company currently has an average rating of “Hold” and an average price target of $34.20.
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Shares of Halyard Health (NYSE:HYH) traded down 0.23% during midday trading on Wednesday, reaching $34.31. 306,120 shares of the company were exchanged. Halyard Health has a 52-week low of $22.76 and a 52-week high of $37.31. The stock has a 50-day moving average price of $35.25 and a 200 day moving average price of $32.65. The company’s market capitalization is $1.60 billion.
Halyard Health (NYSE:HYH) last posted its earnings results on Wednesday, August 3rd. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. The company had revenue of $400 million for the quarter, compared to analyst estimates of $383.08 million. Halyard Health had a negative net margin of 27.63% and a positive return on equity of 8.91%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Equities research analysts expect that Halyard Health will post $1.82 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in Halyard Health by 1.9% in the second quarter. IFP Advisors Inc now owns 3,141 shares of the company’s stock worth $102,000 after buying an additional 58 shares during the period. Tower Research Capital LLC TRC acquired a new position in Halyard Health during the second quarter worth $104,000. LS Investment Advisors LLC increased its position in Halyard Health by 25.6% in the second quarter. LS Investment Advisors LLC now owns 3,241 shares of the company’s stock worth $105,000 after buying an additional 661 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Halyard Health during the second quarter worth $109,000. Finally, Point72 Asset Management L.P. acquired a new position in Halyard Health during the second quarter worth $182,000. 82.94% of the stock is owned by institutional investors and hedge funds.
Halyard Health Company Profile
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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