Equities analysts predict that Avanos Medical Inc (NYSE:AVNS) will announce earnings per share (EPS) of $0.25 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Avanos Medical’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.23. Avanos Medical posted earnings of $0.48 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 47.9%. The company is expected to report its next earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Avanos Medical will report full-year earnings of $1.24 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.27. For the next fiscal year, analysts forecast that the firm will report earnings of $1.74 per share, with EPS estimates ranging from $1.60 to $1.86. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Avanos Medical.
Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, May 7th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Avanos Medical had a return on equity of 4.92% and a net margin of 2.58%. The company had revenue of $164.20 million during the quarter, compared to the consensus estimate of $163.72 million. During the same period last year, the firm posted $0.76 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year.
A number of research analysts have recently issued reports on AVNS shares. Zacks Investment Research downgraded Avanos Medical from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Morgan Stanley set a $47.00 price target on Avanos Medical and gave the company a “sell” rating in a report on Wednesday, May 8th. Finally, ValuEngine raised Avanos Medical from a “hold” rating to a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Avanos Medical currently has a consensus rating of “Hold” and an average price target of $63.00.
In other Avanos Medical news, CEO Joseph Fralin Woody purchased 3,500 shares of the stock in a transaction dated Thursday, May 30th. The shares were purchased 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.57% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY lifted its position in Avanos Medical by 77.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 27,720 shares of the company’s stock worth $1,242,000 after acquiring an additional 12,100 shares during the period. Strs Ohio grew its stake in Avanos Medical by 9.5% in the 1st quarter. Strs Ohio now owns 25,300 shares of the company’s stock valued at $1,079,000 after buying an additional 2,200 shares during the last quarter. Legal & General Group Plc grew its stake in Avanos Medical by 5.9% in the 4th quarter. Legal & General Group Plc now owns 61,075 shares of the company’s stock valued at $2,735,000 after buying an additional 3,393 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Avanos Medical by 8.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 47,619 shares of the company’s stock valued at $2,133,000 after buying an additional 3,706 shares during the last quarter. Finally, FIL Ltd grew its stake in Avanos Medical by 43.2% in the 1st quarter. FIL Ltd now owns 134,865 shares of the company’s stock valued at $5,756,000 after buying an additional 40,658 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.
Avanos Medical stock traded up $0.68 during mid-day trading on Friday, hitting $43.52. The company had a trading volume of 78,885 shares, compared to its average volume of 282,964. The company has a quick ratio of 2.22, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The business has a 50 day simple moving average of $41.94. Avanos Medical has a 12 month low of $37.07 and a 12 month high of $72.96. The company has a market capitalization of $2.04 billion, a P/E ratio of 53.07 and a beta of 1.47.
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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