Equities research analysts expect Avanos Medical Inc (NYSE:AVNS) to post $172.67 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Avanos Medical’s earnings, with the highest sales estimate coming in at $174.10 million and the lowest estimate coming in at $170.90 million. Avanos Medical reported sales of $160.90 million during the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The company is scheduled to report its next earnings results on Tuesday, August 6th.
On average, analysts expect that Avanos Medical will report full-year sales of $695.51 million for the current year, with estimates ranging from $693.90 million to $697.50 million. For the next financial year, analysts forecast that the business will report sales of $735.44 million, with estimates ranging from $728.96 million to $739.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Avanos Medical.
Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Avanos Medical had a return on equity of 4.92% and a net margin of 2.58%. The business had revenue of $164.20 million for the quarter, compared to analyst estimates of $163.72 million. During the same quarter last year, the company earned $0.76 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year.
AVNS has been the topic of a number of research analyst reports. ValuEngine lowered shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. KeyCorp lowered their target price on shares of Avanos Medical from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 27th. Zacks Investment Research lowered shares of Avanos Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Finally, Morgan Stanley set a $47.00 target price on shares of Avanos Medical and gave the company a “sell” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $63.00.
Institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY boosted its holdings in Avanos Medical by 77.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 27,720 shares of the company’s stock valued at $1,242,000 after purchasing an additional 12,100 shares during the period. Strs Ohio boosted its holdings in Avanos Medical by 9.5% in the 1st quarter. Strs Ohio now owns 25,300 shares of the company’s stock valued at $1,079,000 after purchasing an additional 2,200 shares during the period. Legal & General Group Plc boosted its holdings in Avanos Medical by 5.9% in the 4th quarter. Legal & General Group Plc now owns 61,075 shares of the company’s stock valued at $2,735,000 after purchasing an additional 3,393 shares during the period. First Hawaiian Bank bought a new stake in Avanos Medical in the 4th quarter valued at $45,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Avanos Medical by 123.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 9,901 shares of the company’s stock valued at $443,000 after purchasing an additional 5,470 shares during the period. 94.77% of the stock is owned by hedge funds and other institutional investors.
NYSE:AVNS traded down $1.18 during midday trading on Thursday, reaching $43.02. The stock had a trading volume of 289,027 shares, compared to its average volume of 358,211. Avanos Medical has a 1-year low of $38.00 and a 1-year high of $72.96. The company has a current ratio of 2.77, a quick ratio of 2.22 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.04 billion, a PE ratio of 52.46 and a beta of 1.41.
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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