Halyard Health shares rise on Street-topping Q1

Shares in Halyard Health (NYSE:HYH) rose today after the medical device maker beat expectation on Wall Street with its first quarter results.

The Alpharetta, Ga.-based company posted profits of $20.2 million, or 43¢ per share, on sales of $156.4 million for the three months ended March 31, seeing massive 57.8% growth on the bottom-line while sales grew 7.3% compared with the same period during the previous fiscal year.

Adjusted to exclude one-time items, earnings per share were 76¢, vastly surpassing the 17¢ consensus on Wall Street, where analysts were expecting to see sales of $153 million.

“I’m pleased with our continued momentum and volume growth, achieving 6 percent organic top-line growth in medical devices. We delivered solid earnings, at the same time investing to further enhance commercial execution and product innovation. With the divestiture of S&IP now complete, we are in a strong position to take advantage of attractive opportunities that fit within our dual-track growth strategy, focused on M&A and product development,” CEO Joe Woody said in a prepared statement.

Halyard Health released updated guidance for the year, expecting to posted diluted EPS of between $1.65 and $1.85.

Shares in Halyard Health are up 10.2% so far today, at $53.20 as of 2:53 p.m. EDT.

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