Avanos Medical (NYSE:AVNS) Updates FY 2022 Earnings Guidance

Avanos Medical (NYSE:AVNSGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.55-$1.75 for the period, compared to the consensus estimate of $1.64. The company issued revenue guidance of $830.00 million-$850.00 million, compared to the consensus revenue estimate of $842.09 million.

A number of brokerages have recently commented on AVNS. KeyCorp reduced their price target on shares of Avanos Medical from $47.00 to $41.00 and set an overweight rating for the company in a research note on Thursday, February 24th. Zacks Investment Research lowered shares of Avanos Medical from a strong-buy rating to a hold rating and set a $33.00 price target for the company. in a research note on Tuesday, April 26th. Finally, StockNews.com lowered shares of Avanos Medical from a buy rating to a hold rating in a research note on Saturday, April 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $38.75.

AVNS opened at $26.37 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.84 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 69.40 and a beta of 0.87. The company’s 50 day moving average is $31.32 and its 200 day moving average is $31.92. Avanos Medical has a 12-month low of $24.84 and a 12-month high of $40.81.

Avanos Medical (NYSE:AVNSGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $197.40 million for the quarter, compared to the consensus estimate of $197.80 million. Avanos Medical had a net margin of 2.44% and a return on equity of 4.49%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, analysts predict that Avanos Medical will post 1.66 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP purchased a new position in Avanos Medical during the fourth quarter valued at approximately $321,000. LPL Financial LLC purchased a new position in Avanos Medical during the fourth quarter valued at approximately $325,000. Natixis Advisors L.P. purchased a new position in Avanos Medical during the first quarter valued at approximately $378,000. US Bancorp DE lifted its holdings in Avanos Medical by 12.3% during the first quarter. US Bancorp DE now owns 11,468 shares of the company’s stock valued at $383,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Avanos Medical during the first quarter valued at approximately $395,000. 92.71% of the stock is currently owned by institutional investors.

Avanos Medical Company Profile (Get Rating)

Avanos Medical, Inc, a medical technology company, focuses on delivering medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.

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