Verition Fund Management LLC Takes $1.08 Million Position in Hill-Rom Holdings, Inc. (HRC)
Verition Fund Management LLC acquired a new position in shares of Hill-Rom Holdings, Inc. (NYSE:HRC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,376 shares of the medical technology company’s stock, valued at approximately $1,081,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Hill-Rom by 0.7% during the second quarter. BlackRock Inc. now owns 6,221,743 shares of the medical technology company’s stock worth $543,406,000 after buying an additional 45,084 shares during the period. Bank of Montreal Can purchased a new stake in Hill-Rom during the second quarter worth approximately $148,571,000. Lord Abbett & CO. LLC grew its stake in Hill-Rom by 29.2% during the first quarter. Lord Abbett & CO. LLC now owns 1,166,497 shares of the medical technology company’s stock worth $101,485,000 after buying an additional 263,612 shares during the period. Bank of America Corp DE grew its stake in Hill-Rom by 16.8% during the second quarter. Bank of America Corp DE now owns 754,927 shares of the medical technology company’s stock worth $65,936,000 after buying an additional 108,831 shares during the period. Finally, Jennison Associates LLC grew its stake in Hill-Rom by 45.0% during the second quarter. Jennison Associates LLC now owns 665,564 shares of the medical technology company’s stock worth $58,130,000 after buying an additional 206,487 shares during the period. Institutional investors own 84.83% of the company’s stock.
NYSE HRC opened at $91.33 on Friday. Hill-Rom Holdings, Inc. has a 52 week low of $73.03 and a 52 week high of $98.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 1.58. The firm has a market cap of $6.06 billion, a PE ratio of 23.66, a PEG ratio of 1.42 and a beta of 0.89.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 21st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.88%. Hill-Rom’s payout ratio is currently 20.73%.
HRC has been the subject of several research reports. ValuEngine upgraded shares of Hill-Rom from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Northcoast Research reiterated a “buy” rating and set a $104.00 price objective on shares of Hill-Rom in a research note on Tuesday, July 31st. Zacks Investment Research downgraded shares of Hill-Rom from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Raymond James boosted their target price on shares of Hill-Rom from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Finally, KeyCorp boosted their target price on shares of Hill-Rom from $97.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 17th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $100.00.
Hill-Rom Company Profile
Hill-Rom Holdings, Inc operates as a medical technology company worldwide. It provides medical surgical beds, intensive care unit beds, bariatric patient beds, lifts and other devices, non-invasive therapeutic products and surfaces, and communications technologies and software solutions; and medical equipment management services, as well as sells equipment service contracts for its capital equipment.
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