Zacks Investment Research upgraded shares of Hill-Rom (NYSE:HRC) from a hold rating to a buy rating in a research note issued to investors on Thursday. Zacks Investment Research currently has $108.00 price target on the medical technology company’s stock.
According to Zacks, “Over the past three months, Hill-Rom outperformed its industry. The company's adjusted earnings increased 23% in the last reported quarter, marking it as the 13th consecutive quarter of double-digit growth. Hill-Rom saw a solid increase in revenues on robust domestic growth, driven by a sturdy performance in Patient Support Systems and Front Line Care. The company is currently focusing on product innovation. For the full year, it has achieved more than $300 million as new product revenues. In 2019, the company expects to generate more than $400 million in new product revenue, exceeding its 2020 objective one year in advance. On the flip side, international revenues declined with a dip in sales in Asia-Pacific. Also, foreign exchange and a tough competitive landscape remain headwinds.”
HRC has been the topic of a number of other research reports. ValuEngine raised Hill-Rom from a hold rating to a buy rating in a report on Tuesday, November 6th. UBS Group assumed coverage on Hill-Rom in a report on Tuesday, November 27th. They set a buy rating and a $115.00 target price on the stock. Raymond James increased their target price on Hill-Rom from $100.00 to $105.00 and gave the stock an outperform rating in a report on Monday, November 5th. Morgan Stanley increased their target price on Hill-Rom from $95.00 to $100.00 and gave the stock an equal weight rating in a report on Thursday, October 11th. Finally, Barclays assumed coverage on Hill-Rom in a report on Monday, October 15th. They set an equal weight rating and a $95.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Hill-Rom has a consensus rating of Buy and a consensus target price of $103.67.
Hill-Rom (NYSE:HRC) last released its earnings results on Friday, November 2nd. The medical technology company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.12. Hill-Rom had a return on equity of 21.10% and a net margin of 8.86%. The company had revenue of $759.20 million for the quarter, compared to the consensus estimate of $750.90 million. During the same quarter last year, the business posted $1.32 EPS. Hill-Rom’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, research analysts forecast that Hill-Rom will post 5.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, December 13th. Hill-Rom’s dividend payout ratio is presently 16.84%.
In other news, SVP Andreas G. Frank sold 7,454 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $95.76, for a total transaction of $713,795.04. Following the sale, the senior vice president now directly owns 27,224 shares in the company, valued at approximately $2,606,970.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. IMS Capital Management acquired a new stake in shares of Hill-Rom during the 3rd quarter worth approximately $71,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Hill-Rom during the 2nd quarter worth approximately $173,000. Quantbot Technologies LP raised its position in shares of Hill-Rom by 270.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,051 shares of the medical technology company’s stock worth $193,000 after purchasing an additional 1,497 shares during the period. First Light Asset Management LLC acquired a new stake in shares of Hill-Rom during the 3rd quarter worth approximately $202,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Hill-Rom during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 82.57% of the company’s stock.
Hill-Rom Holdings, Inc operates as a medical technology company worldwide. It operates in three segments: Patient Support Systems, Front Line Care, and Surgical Solutions. The company offers medical surgical beds, intensive care unit beds, and bariatric patient beds, lifts and other patient mobility devices, non-invasive therapeutic products and surfaces, and information technologies and software solutions; and medical equipment management services, as well as sells equipment service contracts for its capital equipment.
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