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Why is Halyard Health (HYH) Stock Down Today?

On Monday, shares of medical technology company Halyard Health, Inc. HYH are down over 4% after the company denied allegations made in a 60 Minutes news segment that claims they knowingly sold defective Microcool surgical gowns to healthcare workers after the recent Ebola outbreak.

Halyard added that the report was based on a competitor-conducted test back in 2012, which showed that 77% of its Microcool gowns has failed testing.

“The story included no new information, but left the false impression that the gowns pose a safety risk and have been the subject of frequent complaints by healthcare providers of strikethrough,” Halyard said.

“As the evidence confirms — and counter to the claims made by the plaintiff’s attorney and 60 Minutes — Microcool gowns have an exceptional record of safety and efficacy,” the company continued.

Halyard sits at a #3 (Hold) on the Zacks Rank.

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