Avanos Medical Inc (NYSE:AVNS) Given Average Rating of “Hold” by Brokerages

Avanos Medical Inc (NYSE:AVNS) has received a consensus rating of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $56.00.

Several brokerages have recently issued reports on AVNS. Morgan Stanley set a $47.00 price objective on Avanos Medical and gave the stock a “sell” rating in a report on Wednesday, May 8th. Zacks Investment Research cut Avanos Medical from a “hold” rating to a “sell” rating in a report on Monday, May 6th. ValuEngine cut Avanos Medical from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, KeyCorp decreased their price objective on Avanos Medical from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, February 27th.

Shares of AVNS opened at $42.13 on Friday. The company has a market cap of $2.12 billion, a PE ratio of 51.38 and a beta of 1.41. Avanos Medical has a 1 year low of $37.07 and a 1 year high of $72.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.22 and a current ratio of 2.77.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The firm had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $163.72 million. Avanos Medical had a return on equity of 4.92% and a net margin of 2.58%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. As a group, equities analysts forecast that Avanos Medical will post 1.24 EPS for the current fiscal year.

In other news, CEO Joseph Fralin Woody acquired 3,500 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $39.95 per share, with a total value of $139,825.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.57% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Avanos Medical by 3.4% during the 4th quarter. BlackRock Inc. now owns 5,441,296 shares of the company’s stock valued at $243,716,000 after purchasing an additional 177,524 shares during the last quarter. Champlain Investment Partners LLC increased its position 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 valued at $102,517,000 after purchasing an additional 304,015 shares during the last quarter. Victory Capital Management Inc. increased its position 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 valued at $93,756,000 after purchasing an additional 523,550 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Avanos Medical by 15.2% during the 4th quarter. Macquarie Group Ltd. now owns 1,035,006 shares of the company’s stock valued at $46,358,000 after purchasing an additional 136,508 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Avanos Medical during the 4th quarter valued at approximately $33,253,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Company Profile

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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