Avanos Medical (NYSE:AVNS) Releases Earnings Results, Beats Expectations By $0.06 EPS

Avanos Medical (NYSE:AVNS) released its earnings results on Tuesday. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, FiscalAI reports. Avanos Medical had a positive return on equity of 5.40% and a negative net margin of 10.39%.The firm had revenue of $182.20 million during the quarter, compared to the consensus estimate of $170.00 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year.

Avanos Medical Stock Performance

AVNS stock traded up $0.05 during trading on Thursday, hitting $24.77. 543,601 shares of the company traded hands, compared to its average volume of 1,052,945. The stock’s 50-day simple moving average is $17.04 and its 200 day simple moving average is $13.92. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.15 and a quick ratio of 1.26. The company has a market cap of $1.15 billion, a PE ratio of -15.38 and a beta of 1.58. Avanos Medical has a 1 year low of $9.30 and a 1 year high of $24.80.

Analyst Ratings Changes

AVNS has been the subject of a number of research reports. Zacks Research raised Avanos Medical from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings raised Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Institutional Trading of Avanos Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. increased its position in shares of Avanos Medical by 2.8% in the fourth quarter. Federated Hermes Inc. now owns 25,774 shares of the company’s stock valued at $289,000 after buying an additional 691 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Avanos Medical by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock valued at $386,000 after buying an additional 1,121 shares in the last quarter. Swiss National Bank increased its position in shares of Avanos Medical by 2.1% in the fourth quarter. Swiss National Bank now owns 91,500 shares of the company’s stock valued at $1,028,000 after buying an additional 1,900 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Avanos Medical by 969.3% in the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock valued at $31,000 after buying an additional 2,307 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Avanos Medical by 5.8% in the second quarter. Jane Street Group LLC now owns 56,044 shares of the company’s stock valued at $686,000 after buying an additional 3,062 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Company Profile

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.