Avanos Medical Inc (NYSE:AVNS) to Post Q3 2019 Earnings of $0.31 Per Share, KeyCorp Forecasts

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Avanos Medical Inc (NYSE:AVNS) – Stock analysts at KeyCorp cut their Q3 2019 earnings per share (EPS) estimates for Avanos Medical in a report released on Thursday, August 8th. KeyCorp analyst M. Mishan now expects that the company will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.35. KeyCorp also issued estimates for Avanos Medical’s FY2019 earnings at $1.20 EPS, FY2020 earnings at $1.65 EPS and FY2021 earnings at $2.12 EPS.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Avanos Medical had a positive return on equity of 4.18% and a negative net margin of 3.92%. The business had revenue of $172.20 million during the quarter, compared to analyst estimates of $172.02 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year.

Other equities analysts have also issued reports about the company. Stifel Nicolaus set a $45.00 price target on Avanos Medical and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine raised Avanos Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Raymond James decreased their price target on Avanos Medical from $57.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley set a $47.00 price target on Avanos Medical and gave the company a “sell” rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research lowered Avanos Medical from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $57.50.

Shares of AVNS stock opened at $36.99 on Monday. Avanos Medical has a 12-month low of $35.21 and a 12-month high of $72.96. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 45.11 and a beta of 1.46. The business has a 50 day simple moving average of $41.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.06 and a quick ratio of 2.35.

A number of hedge funds and other institutional investors have recently modified their holdings of AVNS. Norges Bank bought a new position in Avanos Medical during the 4th quarter valued at $33,253,000. Victory Capital Management Inc. boosted its stake in shares of Avanos Medical by 31.3% during the 1st quarter. Victory Capital Management Inc. now owns 2,196,725 shares of the company’s stock worth $93,756,000 after acquiring an additional 523,550 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Avanos Medical during the 1st quarter worth $16,219,000. Champlain Investment Partners LLC boosted its stake in shares of Avanos Medical by 14.5% during the 1st quarter. Champlain Investment Partners LLC now owns 2,401,987 shares of the company’s stock worth $102,517,000 after acquiring an additional 304,015 shares in the last quarter. Finally, Paradice Investment Management LLC boosted its stake in shares of Avanos Medical by 17.8% during the 2nd quarter. Paradice Investment Management LLC now owns 1,991,583 shares of the company’s stock worth $86,853,000 after acquiring an additional 301,082 shares in the last quarter. 92.24% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Joseph Fralin Woody purchased 3,500 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $39.95 per share, with a total value of $139,825.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.57% of the company’s stock.

About Avanos Medical

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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