Avanos Medical Inc (NYSE:AVNS) Expected to Announce Earnings of $0.17 Per Share

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Brokerages expect Avanos Medical Inc (NYSE:AVNS) to post earnings of $0.17 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Avanos Medical’s earnings. The lowest EPS estimate is ($0.16) and the highest is $0.07. Avanos Medical reported earnings per share of $0.28 during the same quarter last year, which suggests a negative year-over-year growth rate of 39.3%. The firm is expected to report its next earnings report on Tuesday, August 4th.

On average, analysts expect that Avanos Medical will report full-year earnings of $0.52 per share for the current year, with EPS estimates ranging from $0.22 to $0.72. For the next year, analysts expect that the business will report earnings of $1.15 per share, with EPS estimates ranging from $0.80 to $1.28. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Avanos Medical.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. The business had revenue of $180.40 million for the quarter, compared to analysts’ expectations of $175.15 million. Avanos Medical had a negative net margin of 3.07% and a positive return on equity of 4.09%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share.

Several analysts have weighed in on AVNS shares. KeyCorp decreased their price objective on shares of Avanos Medical from $48.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Barclays raised shares of Avanos Medical from an “underweight” rating to an “equal weight” rating and set a $30.00 price objective on the stock in a research note on Monday, April 13th. Stifel Nicolaus reduced their target price on shares of Avanos Medical from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. ValuEngine lowered shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Stephens reduced their target price on shares of Avanos Medical from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Avanos Medical currently has an average rating of “Hold” and an average target price of $37.43.

Shares of Avanos Medical stock opened at $29.11 on Friday. The company has a current ratio of 2.77, a quick ratio of 1.96 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 4.22 and a beta of 1.18. Avanos Medical has a 1-year low of $19.46 and a 1-year high of $48.07. The firm’s 50-day moving average price is $28.79 and its two-hundred day moving average price is $29.76.

In other Avanos Medical news, Director Gary Blackford acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $282,400.00. Following the completion of the acquisition, the director now directly owns 29,845 shares of the company’s stock, valued at approximately $842,822.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. lifted its holdings in Avanos Medical by 11.3% in the first quarter. TCI Wealth Advisors Inc. now owns 3,484 shares of the company’s stock valued at $94,000 after buying an additional 353 shares during the period. Mason Street Advisors LLC raised its holdings in Avanos Medical by 1.9% in the fourth quarter. Mason Street Advisors LLC now owns 25,493 shares of the company’s stock worth $859,000 after purchasing an additional 473 shares during the period. Investment Counselors of Maryland LLC raised its holdings in Avanos Medical by 2.0% in the first quarter. Investment Counselors of Maryland LLC now owns 27,726 shares of the company’s stock worth $747,000 after purchasing an additional 549 shares during the period. Amalgamated Bank raised its holdings in Avanos Medical by 9.3% in the fourth quarter. Amalgamated Bank now owns 7,935 shares of the company’s stock worth $267,000 after purchasing an additional 673 shares during the period. Finally, North Star Asset Management Inc. raised its holdings in Avanos Medical by 3.2% in the first quarter. North Star Asset Management Inc. now owns 27,996 shares of the company’s stock worth $754,000 after purchasing an additional 865 shares during the period. Institutional investors and hedge funds own 94.15% 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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Earnings History and Estimates for Avanos Medical (NYSE:AVNS)

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