Halyard Health (HYH) Announces Positive Data On COOLIEF

Halyard Health Inc. (NYSE:HYH) , a leading medical technology company, recently announced positive clinical data supporting the use of COOLIEF for the treatment of chronic osteoarthritis knee pain. COOLIEF is a non-invasive, out-patient treatment that uses cooled radiofrequency technology to safely treat chronic pain. This is also known as “cooled radiofrequency therapy.”

Led by Dr. Timothy Davis, founder and medical director of Orthopedic Pain Specialists in Santa Monica, California, the randomized multi-center study included the examination of 151 patients over 12 months with primary effectiveness at six months and 12 months. Per the study, COOLIEF provided significantly greater and longer-lasting pain relief, improved physical function and higher patient satisfaction than intra-articular steroid injections. The positive data was presented last week at the European Society of Regional Anaesthesia & Pain Therapy Annual Congress in Lugano, Switzerland.

In April, Halyard Health received clearance from the U.S. Food and Drug Administration (FDA) for marketing COOLIEF for the relief of chronic moderate to severe knee pain caused by osteoarthritis.

Halyard Health’s shares have outperformed the industry in the past three months. The stock has gained 20.2% in the period against the industry's 3.5% decline. The current level is also better than the S&P 500's return of 2.4%. The Zacks Consensus Estimate of Halyard Health for fiscal 2017 increased couple of cents to $1.97 per share over the last 60 days. Similarly, for fiscal 2018, estimates increased 3 cents to $2.10 per share over the same time frame.

Halyard Health is a Alpharetta, GA-based medical technology company advancing health and healthcare by delivering clinically superior solutions for preventing infection, eliminating pain, and expediting recovery. The company offers surgical and infection prevention products for the operating room, and a portfolio of innovative medical devices focused on pain management,and respiratory and digestive health.

Zacks Rank & Other Stocks to Consider

Halyard Health carries a Zacks Rank #2 (Buy). A few well-ranked medical stocks in the medical sector are Edwards Lifesciences Corporation (NYSE:EW) , Lantheus Holdings, Inc (NASDAQ:LNTH) and IDEXX Laboratories, Inc (NASDAQ:IDXX) . Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while Lantheus Holdings and IDEXX carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has rallied roughly 19.9% in the last six months.

Lantheus Holdings has a long-term expected earnings growth rate of 12.5%. The stock has gained 40.7% in the last six months.

IDEXX has a long-term expected earnings growth rate of 19.8%. The stock has gained around 4.7% in the last six years.

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