Avanos Medical (NYSE:AVNS) Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Avanos Medical (NYSE:AVNS) from a buy rating to a hold rating in a research report report published on Wednesday morning, ValuEngine reports.

A number of other research analysts have also weighed in on the stock. Raymond James cut their target price on shares of Avanos Medical from $57.00 to $48.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. Zacks Investment Research lowered shares of Avanos Medical from a hold rating to a sell rating in a research report on Monday, May 6th. Stifel Nicolaus set a $45.00 target price on shares of Avanos Medical and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley set a $47.00 price objective on shares of Avanos Medical and gave the company a sell rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Avanos Medical presently has an average rating of Hold and an average target price of $57.50.

Avanos Medical stock opened at $32.75 on Wednesday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 39.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.06 and a quick ratio of 2.35. Avanos Medical has a fifty-two week low of $32.60 and a fifty-two week high of $72.96. The firm has a fifty day moving average price of $39.73 and a two-hundred day moving average price of $42.69.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $172.20 million during the quarter, compared to analyst estimates of $172.02 million. Avanos Medical had a negative net margin of 3.92% and a positive return on equity of 4.18%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. As a group, sell-side analysts expect that Avanos Medical will post 1.2 earnings per share for the current year.

In related news, CEO Joseph Fralin Woody acquired 3,500 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $39.95 per share, with a total value of $139,825.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AVNS. RGM Capital LLC increased its stake in Avanos Medical by 1,659.3% in the second quarter. RGM Capital LLC now owns 751,523 shares of the company’s stock valued at $32,774,000 after acquiring an additional 708,806 shares during the period. Victory Capital Management Inc. increased its stake in Avanos Medical by 31.3% in the first quarter. Victory Capital Management Inc. now owns 2,196,725 shares of the company’s stock valued at $93,756,000 after acquiring an additional 523,550 shares during the period. Rice Hall James & Associates LLC bought a new stake in Avanos Medical in the first quarter valued at about $16,219,000. Champlain Investment Partners LLC increased its stake in Avanos Medical by 14.5% in the first quarter. Champlain Investment Partners LLC now owns 2,401,987 shares of the company’s stock valued at $102,517,000 after acquiring an additional 304,015 shares during the period. Finally, Paradice Investment Management LLC increased its stake in Avanos Medical by 17.8% in the second quarter. Paradice Investment Management LLC now owns 1,991,583 shares of the company’s stock valued at $86,853,000 after acquiring an additional 301,082 shares during the period. 92.12% of the stock is currently owned by institutional investors and hedge funds.

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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