Avanos Medical (NYSE:AVNS) Stock Rating Upgraded by Zacks Research

Avanos Medical (NYSE:AVNS) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently commented on AVNS. Weiss Ratings reissued a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, December 22nd. Wall Street Zen raised Avanos Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Avanos Medical currently has an average rating of “Reduce”.

Avanos Medical Stock Performance

AVNS traded down $0.20 during midday trading on Monday, reaching $12.95. The company’s stock had a trading volume of 160,666 shares, compared to its average volume of 569,246. The company has a current ratio of 2.38, a quick ratio of 1.36 and a debt-to-equity ratio of 0.12. The stock has a market cap of $601.14 million, a P/E ratio of -1.27 and a beta of 1.08. The company has a fifty day simple moving average of $11.78 and a 200 day simple moving average of $11.63. Avanos Medical has a twelve month low of $9.30 and a twelve month high of $17.69.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.10. The business had revenue of $177.80 million for the quarter, compared to analysts’ expectations of $164.50 million. Avanos Medical had a positive return on equity of 6.21% and a negative net margin of 67.00%.Avanos Medical’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Avanos Medical has set its FY 2025 guidance at 0.850-0.950 EPS. Research analysts expect that Avanos Medical will post 1.32 earnings per share for the current year.

Insider Buying and Selling at Avanos Medical

In other news, SVP Kerr Holbrook sold 15,000 shares of Avanos Medical stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $11.00, for a total transaction of $165,000.00. Following the transaction, the senior vice president directly owned 83,860 shares of the company’s stock, valued at $922,460. This trade represents a 15.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.64% of the stock is owned by corporate insiders.

Institutional Trading of Avanos Medical

Several hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC grew its stake in Avanos Medical by 22.8% in the third quarter. Armistice Capital LLC now owns 2,500,000 shares of the company’s stock valued at $28,900,000 after acquiring an additional 464,000 shares during the period. Millennium Management LLC lifted its holdings in shares of Avanos Medical by 312.4% during the 3rd quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock valued at $10,361,000 after purchasing an additional 678,898 shares in the last quarter. Tributary Capital Management LLC grew its position in shares of Avanos Medical by 10.0% in the 2nd quarter. Tributary Capital Management LLC now owns 810,720 shares of the company’s stock valued at $9,923,000 after purchasing an additional 73,518 shares during the period. Clark Estates Inc. NY increased its stake in Avanos Medical by 58.7% during the 3rd quarter. Clark Estates Inc. NY now owns 783,880 shares of the company’s stock worth $9,062,000 after purchasing an additional 290,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Avanos Medical by 16.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 727,838 shares of the company’s stock worth $8,414,000 after buying an additional 102,429 shares during the period. Institutional investors and hedge funds own 95.17% of the company’s stock.

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.