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Halyard Health (HYH) Expands CORGRIP System Product Line

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Alpharetta, GA-based Halyard Health , a leading medical technology company, recently announced the expansion of its CORGRIP Nasogastric/Nasointestinal (NG/NI) Tube Retention System product line. Per the announcement, the company introduced CORGRIP compatible for use with sump tubes up to 18 FR.

Stock Performance

Over the past three months, Halyard Health’s shares have lost roughly 12.50% comparing unfavorably with the Zacks categorized Medical/Dental-Supplies’ sub-industry’s gain of 3.91%. The current level is below the S&P 500’s return of 1.85% over the same time frame. However, a long-term expected earnings growth rate of 7.70% instills confidence in investors.


The estimate revision for the stock has been unfavorable. The current quarter has seen three estimates move south over the last two months, compared with no movement in the opposite direction. As a result, earnings estimates for the current quarter have declined by 4 cents to 39 cents over the same time frame. Halyard Health carries a Zacks Rank #3 (Hold).

Coming back to the news, the expansion of the CORGRIP Nasogastric/Nasointestinal (NG/NI) Tube Retention System product line would enable Halyard Health to have a firmer grip on the enteral feeding devices market. The product line is aimed at reducing the overall cost of patient care by reducing multiple procedures from dislodged tubes.

Focusing on the latest development, lucrative prospects in the global enteral feeding devices market are likely to improve the company’s fortunes. Data from the Markets And Markets reveal that the markets are expected to reach $2.8 billion by 2021, multiplying at a CAGR of 5.5%.

Key Picks

Better-ranked stocks in the broader medical sector include Luminex Corporation , Hologic, Inc. (HOLX - Free Report) and Inogen Inc (INGN - Free Report) . Notably, Inogen and Luminex sport a Zacks Rank #1 (Strong Buy), while Hologic carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Inogen promises a long-term adjusted earnings growth of almost 17.5%. The stock has returned 81.5% over the last one year.

Luminex has an expected long-term adjusted earnings growth of almost 16.3%. The stock has added roughly 6.4% over the last three months.

Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 29.2%.

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