JMP Securities Downgrades Halyard Health (HYH) to Market Perform

JMP Securities downgraded Halyard Health (NYSE: HYH) from Market Outperform to Market Perform on valuation.

Analyst David Turkaly commented, Following a strong run up into the end of 2016, HYH is now trading in line with our prior $38 price target (which was based on ~20x our 2017 EPS estimate of $1.95); thus, we believe shares are fairly valued. While we remain bullish on opportunities for margin improvement and higher sales growth as S&IP improves and acquisitions continue for this still fairly recent spin-out (two-year standalone anniversary just surpassed), we see less near-term upside to the shares."

For an analyst ratings summary and ratings history on Halyard Health click here. For more ratings news on Halyard Health click here.

Shares of Halyard Health closed at $37.79 yesterday.

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