Avanos Medical (NYSE:AVNS) Sets New 1-Year High – Time to Buy?

Avanos Medical, Inc. (NYSE:AVNS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.87 and last traded at $24.8650, with a volume of 31182 shares traded. The stock had previously closed at $24.80.

Wall Street Analysts Forecast Growth

AVNS has been the topic of several research reports. Wall Street Zen downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings upgraded shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of Avanos Medical from a “hold” rating to a “strong sell” rating in a research report on Thursday. Two analysts have rated the stock with a Sell rating, According to MarketBeat, Avanos Medical presently has an average rating of “Sell”.

Avanos Medical Stock Up 0.0%

The company has a debt-to-equity ratio of 0.11, a current ratio of 2.48 and a quick ratio of 1.40. The business has a 50-day moving average of $17.26 and a 200 day moving average of $14.02. The company has a market capitalization of $1.16 billion, a PE ratio of -15.41 and a beta of 1.58.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AVNS. PNC Financial Services Group Inc. raised its position in Avanos Medical by 15.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company’s stock valued at $89,000 after purchasing an additional 846 shares during the period. Fifth Third Bancorp boosted its position in shares of Avanos Medical by 5,180.2% in the 1st quarter. Fifth Third Bancorp now owns 11,722 shares of the company’s stock valued at $164,000 after purchasing an additional 11,500 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Avanos Medical during the first quarter worth about $289,000. Corient Private Wealth LLC acquired a new stake in shares of Avanos Medical during the fourth quarter worth about $234,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Avanos Medical during the fourth quarter worth about $177,000. 95.17% of the stock is 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.