Wall Street brokerages expect Avanos Medical Inc (NYSE:AVNS) to announce $172.67 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Avanos Medical’s earnings, with the highest sales estimate coming in at $174.10 million and the lowest estimate coming in at $170.90 million. Avanos Medical reported sales of $160.90 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The firm is scheduled to issue its next earnings report on Tuesday, August 6th.
On average, analysts expect that Avanos Medical will report full year sales of $695.51 million for the current financial year, with estimates ranging from $693.90 million to $697.50 million. For the next year, analysts anticipate that the company will post sales of $735.44 million, with estimates ranging from $728.96 million to $739.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Avanos Medical.
Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). Avanos Medical had a net margin of 2.58% and a return on equity of 4.92%. The business had revenue of $164.20 million during the quarter, compared to analysts’ expectations of $163.72 million. During the same period in the previous year, the business earned $0.76 EPS. The business’s revenue was up 5.0% on a year-over-year basis.
A number of brokerages recently weighed in on AVNS. ValuEngine raised Avanos Medical from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut Avanos Medical from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Finally, Morgan Stanley set a $47.00 price objective on Avanos Medical and gave the company a “sell” rating in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $63.00.
In other news, CEO Joseph Fralin Woody acquired 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $39.95 per share, with a total value of $139,825.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.57% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. grew its position in Avanos Medical by 32.6% during the 4th quarter. Suntrust Banks Inc. now owns 5,080 shares of the company’s stock worth $228,000 after acquiring an additional 1,248 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Avanos Medical during the 1st quarter worth approximately $230,000. Advisor Group Inc. grew its position in Avanos Medical by 64.4% during the 4th quarter. Advisor Group Inc. now owns 5,414 shares of the company’s stock worth $242,000 after acquiring an additional 2,120 shares during the last quarter. Brinker Capital Inc. bought a new position in Avanos Medical during the 1st quarter worth approximately $256,000. Finally, Paradigm Capital Management Inc. NY grew its position in Avanos Medical by 8.1% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 6,160 shares of the company’s stock worth $263,000 after acquiring an additional 460 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.
Shares of NYSE:AVNS traded up $0.68 on Monday, hitting $43.52. The company’s stock had a trading volume of 78,885 shares, compared to its average volume of 282,964. The firm’s 50-day moving average price is $41.94. Avanos Medical has a 1 year low of $37.07 and a 1 year high of $72.96. The stock has a market cap of $2.04 billion, a P/E ratio of 53.07 and a beta of 1.47. The company has a quick ratio of 2.22, a current ratio of 2.77 and a debt-to-equity ratio of 0.24.
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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