Avanos Medical, Inc. (NYSE:AVNS) Expected to Post Earnings of $0.29 Per Share

Wall Street brokerages expect Avanos Medical, Inc. (NYSE:AVNS) to report earnings per share of $0.29 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Avanos Medical’s earnings, with estimates ranging from $0.25 to $0.33. Avanos Medical reported earnings per share of $0.21 in the same quarter last year, which would indicate a positive year over year growth rate of 38.1%. The business is expected to issue its next quarterly earnings report on Tuesday, November 2nd.

According to Zacks, analysts expect that Avanos Medical will report full-year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.11 to $1.18. For the next financial year, analysts anticipate that the company will report earnings of $1.53 per share, with EPS estimates ranging from $1.44 to $1.62. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Avanos Medical.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Monday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Avanos Medical had a net margin of 0.33% and a return on equity of 3.52%. The company had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $180.56 million. During the same period last year, the firm posted $0.13 earnings per share. Avanos Medical’s revenue was up 13.9% on a year-over-year basis.

Several equities analysts recently commented on the company. Stephens lowered Avanos Medical from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $60.00 to $45.00 in a report on Wednesday, August 4th. KeyCorp dropped their target price on Avanos Medical from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, August 4th. They noted that the move was a valuation call. Finally, Morgan Stanley dropped their target price on Avanos Medical from $45.00 to $41.00 and set an “underweight” rating on the stock in a report on Wednesday, August 4th.

In other news, Director Patrick J. Oleary acquired 5,000 shares of the company’s stock in a transaction on Wednesday, September 15th. The shares were bought at an average price of $31.63 per share, with a total value of $158,150.00. Following the completion of the acquisition, the director now owns 31,347 shares in the company, valued at approximately $991,505.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.99% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Avanos Medical by 3.3% during the first quarter. Federated Hermes Inc. now owns 9,542 shares of the company’s stock worth $417,000 after purchasing an additional 302 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Avanos Medical by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 51,473 shares of the company’s stock worth $1,872,000 after purchasing an additional 441 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Avanos Medical by 6.5% during the first quarter. Prudential Financial Inc. now owns 9,333 shares of the company’s stock worth $408,000 after buying an additional 566 shares during the period. North Star Asset Management Inc. boosted its stake in shares of Avanos Medical by 2.4% during the second quarter. North Star Asset Management Inc. now owns 26,361 shares of the company’s stock worth $959,000 after buying an additional 626 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Avanos Medical by 1.4% during the first quarter. UBS Asset Management Americas Inc. now owns 47,029 shares of the company’s stock worth $2,057,000 after buying an additional 669 shares during the period. 91.25% of the stock is currently owned by institutional investors.

Shares of Avanos Medical stock traded up $0.64 during trading hours on Thursday, reaching $32.79. 3,295 shares of the company were exchanged, compared to its average volume of 291,433. The firm has a market cap of $1.58 billion, a PE ratio of 1,090.67 and a beta of 0.91. The stock’s fifty day moving average is $32.57 and its 200 day moving average is $37.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 2.80. Avanos Medical has a 1 year low of $30.70 and a 1 year high of $53.61.

About Avanos Medical

Avanos Medical, Inc operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients’ quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care.

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