Avanos Medical (NYSE:AVNS) Releases FY24 Earnings Guidance

Avanos Medical (NYSE:AVNS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.30-1.45 for the period, compared to the consensus 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 Stock Down 0.2 %

AVNS traded down $0.03 on Friday, hitting $19.68. 246,254 shares of the company’s stock traded hands, compared to its average volume of 211,695. The company’s 50 day simple moving average is $19.19 and its 200-day simple moving average is $19.91. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.14. Avanos Medical has a one year low of $17.24 and a one year high of $26.56.

Avanos Medical (NYSE:AVNS) last posted 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 company had revenue of $173.30 million for the quarter, compared to analysts’ expectations of $170.43 million. Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 3.98%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities analysts expect that Avanos Medical will post 1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $19.12, for a total transaction of $152,960.00. Following the completion of the sale, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at $2,896,584.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by company insiders.

About Avanos Medical

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.