Avanos Medical (NYSE:AVNS) Rating Lowered to “Strong Sell” at Zacks Research

Avanos Medical (NYSE:AVNS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also commented on AVNS. Wall Street Zen lowered Avanos Medical from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings upgraded Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Avanos Medical Stock Performance

NYSE:AVNS opened at $24.80 on Thursday. The firm has a market cap of $1.16 billion, a PE ratio of -15.40 and a beta of 1.58. The firm has a 50 day simple moving average of $17.26 and a 200-day simple moving average of $14.02. Avanos Medical has a 1-year low of $9.30 and a 1-year high of $24.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.48 and a quick ratio of 1.26.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $182.20 million during the quarter, compared to analyst estimates of $170.00 million. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, equities analysts expect that Avanos Medical will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. increased its stake in Avanos Medical by 2.8% during the fourth quarter. Federated Hermes Inc. now owns 25,774 shares of the company’s stock worth $289,000 after acquiring an additional 691 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Avanos Medical by 15.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company’s stock worth $89,000 after acquiring an additional 846 shares during the last quarter. Versant Capital Management Inc increased its stake in Avanos Medical by 49.7% during the third quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock worth $31,000 after acquiring an additional 894 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Avanos Medical by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock worth $386,000 after acquiring an additional 1,121 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its stake in Avanos Medical by 3.0% during the third quarter. Azzad Asset Management Inc. ADV now owns 43,230 shares of the company’s stock worth $500,000 after acquiring an additional 1,240 shares during the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.

About Avanos Medical

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.