Halyard Health, Inc. (NYSE:HYH) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Halyard Health, Inc. (NYSE:HYH) from a hold rating to a buy rating in a report released on Wednesday, July 12th. The brokerage currently has $44.00 target price on the medical instruments supplier’s stock.

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. “

A number of other analysts have also recently weighed in on HYH. TheStreet raised shares of Halyard Health from a c rating to a b- rating in a research note on Thursday, April 6th. BidaskClub raised shares of Halyard Health from a hold rating to a buy rating in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and an average price target of $42.25.

Halyard Health (HYH) opened at 41.31 on Wednesday. Halyard Health has a 12-month low of $31.59 and a 12-month high of $43.78. The firm’s 50-day moving average price is $40.17 and its 200 day moving average price is $38.81. The firm has a market cap of $1.93 billion, a P/E ratio of 39.72 and a beta of 1.78.

Halyard Health (NYSE:HYH) last posted its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.14. The firm had revenue of $399.20 million for the quarter, compared to analysts’ expectations of $399.16 million. Halyard Health had a net margin of 3.06% and a return on equity of 8.29%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Analysts forecast that Halyard Health will post $1.98 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Somerset Trust Co raised its position in shares of Halyard Health by 15,961.5% in the first quarter. Somerset Trust Co now owns 12,528 shares of the medical instruments supplier’s stock worth $477,000 after buying an additional 12,450 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Halyard Health by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the medical instruments supplier’s stock worth $449,000 after buying an additional 300 shares during the period. Capstone Asset Management Co. acquired a new position in shares of Halyard Health during the first quarter worth approximately $203,000. Creative Planning raised its position in shares of Halyard Health by 17.1% in the first quarter. Creative Planning now owns 5,679 shares of the medical instruments supplier’s stock worth $216,000 after buying an additional 830 shares during the period. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Halyard Health during the first quarter worth approximately $26,763,000. Institutional investors own 90.28% of the company’s stock.

Halyard Health Company Profile

Halyard Health, Inc is a medical technology company. The Company operates through two segments: Medical Devices and Surgical and Infection Prevention (S&IP). The Medical Devices segment provides a portfolio of product offerings focused on pain management, respiratory and digestive health. The S&IP segment provides healthcare supplies and solutions that target the prevention of healthcare-associated infections.

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