Avanos Medical (NYSE:AVNS) Updates FY24 Earnings Guidance

Avanos Medical (NYSE:AVNS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.30-1.45 for the period, compared to the consensus earnings per share estimate of $1.38. The company issued revenue guidance of $685-705 million, compared to the consensus revenue estimate of $691.07 million.

Avanos Medical Trading Down 0.2 %

Shares of AVNS traded down $0.03 on Friday, reaching $19.68. The stock had a trading volume of 246,254 shares, compared to its average volume of 211,695. Avanos Medical has a twelve month low of $17.24 and a twelve month high of $26.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.38 and a current ratio of 2.28. The firm has a 50-day moving average of $19.19 and a 200 day moving average of $19.91.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $173.30 million during the quarter, compared to analysts’ expectations of $170.43 million. Avanos Medical had a positive return on equity of 3.98% and a negative net margin of 9.15%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. As a group, sell-side analysts predict that Avanos Medical will post 1.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Avanos Medical from a buy rating to a hold rating in a report on Friday.

Insider Activity at Avanos Medical

In related news, CFO Michael Greiner sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $19.12, for a total value of $152,960.00. Following the transaction, the chief financial officer now owns 151,495 shares in the company, valued at $2,896,584.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Avanos Medical Company Profile

Avanos Medical, Inc, a medical technology company, offers 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.