Zacks Investment Research lowered shares of Avanos Medical (NYSE:AVNS) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “Avanos Medical Inc. operates as a medical technology company. It offers infection prevention, surgical, respiratory, digestive health and pain management solutions. Avanos Medical Inc., formerly known as Halyard Health Inc., is headquartered in Alpharetta, Georgia. “
Other research analysts also recently issued research reports about the company. Raymond James raised Avanos Medical from a market perform rating to an outperform rating in a research note on Tuesday, August 21st. KeyCorp upped their price objective on Avanos Medical from $66.00 to $75.00 and gave the company an overweight rating in a research note on Wednesday, August 8th. Finally, Morgan Stanley upped their price objective on Avanos Medical from $60.00 to $62.00 and gave the company an underweight rating in a research note on Thursday.
Shares of AVNS stock traded down $0.02 on Friday, reaching $59.44. The company had a trading volume of 341,982 shares, compared to its average volume of 374,079. The stock has a market capitalization of $3.24 billion, a P/E ratio of 25.29 and a beta of 1.77. The company has a current ratio of 2.48, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. Avanos Medical has a one year low of $41.51 and a one year high of $72.96.
Avanos Medical (NYSE:AVNS) last posted its earnings results on Tuesday, August 7th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $157.37 million. Avanos Medical had a net margin of 11.85% and a return on equity of 7.61%. As a group, equities analysts predict that Avanos Medical will post 1.87 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Avanos Medical in the second quarter valued at approximately $136,000. CENTRAL TRUST Co acquired a new position in shares of Avanos Medical in the third quarter valued at approximately $167,000. Bank of Montreal Can acquired a new position in shares of Avanos Medical in the third quarter valued at approximately $197,000. McQueen Ball & Associates Inc. acquired a new position in shares of Avanos Medical in the third quarter valued at approximately $268,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Avanos Medical in the third quarter valued at approximately $704,000. 84.85% of the stock is owned by institutional investors.
About Avanos Medical
Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.
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