Avanos Medical (NYSE:AVNS) Lifted to Strong-Buy at StockNews.com

by · The Cerbat Gem

Avanos Medical (NYSE:AVNS – Get Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Avanos Medical Price Performance

AVNS traded up $0.15 during trading on Tuesday, hitting $22.80. The company’s stock had a trading volume of 180,556 shares, compared to its average volume of 239,375. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -17.14 and a beta of 0.91. Avanos Medical has a twelve month low of $17.24 and a twelve month high of $25.36. The business’s fifty day simple moving average is $23.44 and its 200 day simple moving average is $21.27. The company has a current ratio of 2.28, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13.

Avanos Medical (NYSE:AVNS – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $171.70 million for the quarter, compared to analysts’ expectations of $170.67 million. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. On average, equities research analysts forecast that Avanos Medical will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Avanos Medical in the 2nd quarter worth approximately $70,000. EntryPoint Capital LLC lifted its position in Avanos Medical by 97.6% during the first quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock worth $112,000 after buying an additional 2,766 shares in the last quarter. XTX Topco Ltd purchased a new position in Avanos Medical during the second quarter worth approximately $202,000. Magnetar Financial LLC acquired a new position in Avanos Medical during the second quarter worth $248,000. Finally, Janney Montgomery Scott LLC grew its holdings in Avanos Medical by 19.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock valued at $259,000 after buying an additional 2,082 shares in the last quarter. 95.17% of the stock is owned by institutional investors and hedge funds.

About Avanos Medical

(Get Free Report)

Avanos Medical, Inc, a medical technology company, offers medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.

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