Avanos Medical (NYSE:AVNS) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat reports. They currently have a $35.00 price target on the stock, down from their previous price target of $45.00. Stifel Nicolaus’ price target suggests a potential downside of 1.52% from the stock’s previous close.
A number of other research firms also recently commented on AVNS. Raymond James downgraded Avanos Medical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Zacks Investment Research upgraded Avanos Medical from a “sell” rating to a “hold” rating and set a $46.00 price objective on the stock in a report on Wednesday, October 30th. JMP Securities restated a “hold” rating on shares of Avanos Medical in a report on Wednesday, August 21st. Finally, ValuEngine downgraded Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.80.
Shares of AVNS traded up $1.61 during trading hours on Wednesday, reaching $35.54. The company’s stock had a trading volume of 437,691 shares, compared to its average volume of 336,622. The company has a 50 day moving average of $39.33 and a two-hundred day moving average of $39.95. Avanos Medical has a 1-year low of $31.78 and a 1-year high of $53.45. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 43.34 and a beta of 1.56. The company has a quick ratio of 2.35, a current ratio of 3.06 and a debt-to-equity ratio of 0.25.
Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Avanos Medical had a positive return on equity of 3.91% and a negative net margin of 6.20%. The firm had revenue of $171.40 million during the quarter, compared to analyst estimates of $179.98 million. During the same quarter in the prior year, the company posted $0.37 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Avanos Medical will post 1.05 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama boosted its position in Avanos Medical by 0.4% during the third quarter. Retirement Systems of Alabama now owns 62,020 shares of the company’s stock worth $2,323,000 after purchasing an additional 229 shares during the period. Texas Permanent School Fund boosted its position in Avanos Medical by 0.7% during the third quarter. Texas Permanent School Fund now owns 32,473 shares of the company’s stock worth $1,216,000 after purchasing an additional 233 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Avanos Medical by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 19,250 shares of the company’s stock worth $839,000 after purchasing an additional 271 shares during the period. Signaturefd LLC boosted its position in Avanos Medical by 40.5% during the third quarter. Signaturefd LLC now owns 1,082 shares of the company’s stock worth $41,000 after purchasing an additional 312 shares during the period. Finally, Advisory Services Network LLC boosted its position in Avanos Medical by 39.7% during the second quarter. Advisory Services Network LLC now owns 1,203 shares of the company’s stock worth $53,000 after purchasing an additional 342 shares during the period. 94.14% of the stock is owned by hedge funds and other institutional investors.
About Avanos Medical
Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.
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