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 research report report published on Wednesday. They currently have $44.00 price objective 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 equities research analysts have also issued reports on HYH. TheStreet raised shares of Halyard Health from a c rating to a b- rating in a report on Thursday, April 6th. BidaskClub raised shares of Halyard Health from a hold rating to a buy rating in a report on Wednesday, June 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $40.50.

Halyard Health (HYH) opened at 39.42 on Wednesday. Halyard Health has a 12-month low of $31.59 and a 12-month high of $41.84. The company has a 50-day moving average of $37.60 and a 200 day moving average of $38.35. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 48.01 and a beta of 1.78.

Halyard Health (NYSE:HYH) last announced its quarterly earnings results on Tuesday, May 2nd. The medical instruments supplier reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $395.60 million for the quarter, compared to analyst estimates of $391.56 million. Halyard Health had a net margin of 2.40% and a return on equity of 8.16%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Equities analysts expect that Halyard Health will post $1.85 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in the stock. CENTRAL TRUST Co raised its stake in shares of Halyard Health by 1.0% in the first quarter. CENTRAL TRUST Co now owns 2,643 shares of the medical instruments supplier’s stock worth $101,000 after buying an additional 25 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Halyard Health by 1.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,660 shares of the medical instruments supplier’s stock worth $101,000 after buying an additional 28 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Halyard Health by 1.1% in the first quarter. Glen Harbor Capital Management LLC now owns 3,230 shares of the medical instruments supplier’s stock worth $123,000 after buying an additional 34 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Halyard Health during the first quarter worth $153,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Halyard Health by 102.5% in the first quarter. Tower Research Capital LLC TRC now owns 4,836 shares of the medical instruments supplier’s stock worth $184,000 after buying an additional 2,448 shares during the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.

About Halyard Health

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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