Zacks: Analysts Expect Avanos Medical Inc (NYSE:AVNS) Will Post Quarterly Sales of $177.83 Million

Brokerages expect Avanos Medical Inc (NYSE:AVNS) to post sales of $177.83 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Avanos Medical’s earnings. The lowest sales estimate is $175.00 million and the highest is $180.90 million. Avanos Medical reported sales of $169.90 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The firm is expected to report its next quarterly earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Avanos Medical will report full year sales of $686.79 million for the current fiscal year, with estimates ranging from $682.80 million to $690.24 million. For the next year, analysts forecast that the business will report sales of $738.97 million, with estimates ranging from $735.80 million to $742.26 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Avanos Medical.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Tuesday, November 5th. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). Avanos Medical had a positive return on equity of 3.92% and a negative net margin of 6.20%. The firm had revenue of $171.40 million for the quarter, compared to analysts’ expectations of $179.98 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis.

Several analysts have commented on AVNS shares. ValuEngine lowered shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Raymond James lowered shares of Avanos Medical from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Stifel Nicolaus lowered shares of Avanos Medical from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $45.00 to $35.00 in a report on Wednesday, November 6th. JMP Securities restated a “hold” rating on shares of Avanos Medical in a report on Wednesday, August 21st. Finally, KeyCorp lowered their price objective on shares of Avanos Medical from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Avanos Medical presently has an average rating of “Hold” and an average price target of $44.80.

A number of institutional investors and hedge funds have recently modified their holdings of the business. RGM Capital LLC increased its stake in shares of Avanos Medical by 1,659.3% during the second quarter. RGM Capital LLC now owns 751,523 shares of the company’s stock valued at $32,774,000 after purchasing an additional 708,806 shares in the last quarter. Paradice Investment Management LLC increased its stake in shares of Avanos Medical by 17.8% during the second quarter. Paradice Investment Management LLC now owns 1,991,583 shares of the company’s stock valued at $86,853,000 after purchasing an additional 301,082 shares in the last quarter. Invesco Ltd. increased its stake in shares of Avanos Medical by 21.0% during the second quarter. Invesco Ltd. now owns 1,637,165 shares of the company’s stock valued at $71,396,000 after purchasing an additional 284,234 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Avanos Medical during the second quarter valued at approximately $8,718,000. Finally, Macquarie Group Ltd. increased its stake in shares of Avanos Medical by 13.0% during the second quarter. Macquarie Group Ltd. now owns 1,234,569 shares of the company’s stock valued at $53,840,000 after purchasing an additional 142,386 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

AVNS traded up $0.43 on Thursday, hitting $32.32. The company had a trading volume of 322,668 shares, compared to its average volume of 486,598. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.51 and a quick ratio of 1.84. Avanos Medical has a 52-week low of $31.29 and a 52-week high of $53.45. The stock has a fifty day simple moving average of $38.93 and a 200-day simple moving average of $39.71. The firm has a market capitalization of $1.53 billion, a P/E ratio of 30.08 and a beta of 1.56.

Avanos Medical Company Profile

Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.

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