Zacks: Brokerages Anticipate Avanos Medical Inc (AVNS) to Announce $0.29 Earnings Per Share

Equities analysts expect Avanos Medical Inc (NYSE:AVNS) to announce $0.29 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Avanos Medical’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.30. Avanos Medical posted earnings per share of $0.60 in the same quarter last year, which suggests a negative year-over-year growth rate of 51.7%. The firm is expected to issue its next earnings results on Wednesday, November 7th.

On average, analysts expect that Avanos Medical will report full year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.88. For the next year, analysts expect that the firm will report earnings of $1.58 per share, with EPS estimates ranging from $1.40 to $1.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Avanos Medical.

Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. KeyCorp lifted their target price on shares of Avanos Medical from $66.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 8th. Raymond James raised shares of Avanos Medical from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 21st. Finally, Morgan Stanley boosted their price target on shares of Avanos Medical from $58.00 to $60.00 and gave the company an “underweight” rating in a research report on Wednesday, August 8th.

Shares of AVNS opened at $72.15 on Tuesday. Avanos Medical has a 52-week low of $41.51 and a 52-week high of $72.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.48. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 30.70 and a beta of 1.60.

An institutional investor recently bought a new position in Avanos Medical stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Avanos Medical Inc (NYSE:AVNS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,372 shares of the company’s stock, valued at approximately $136,000. Hedge funds and other institutional investors own 84.92% of the company’s stock.

Avanos Medical Company Profile

Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.

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