Equities analysts forecast that Avanos Medical Inc (NYSE:AVNS) will announce $165.67 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Avanos Medical’s earnings. The lowest sales estimate is $163.10 million and the highest is $168.60 million. Avanos Medical reported sales of $166.30 million in the same quarter last year, which suggests a negative year over year growth rate of 0.4%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, February 26th.
According to Zacks, analysts expect that Avanos Medical will report full year sales of $647.95 million for the current fiscal year, with estimates ranging from $645.50 million to $651.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $690.17 million, with estimates ranging from $688.60 million to $691.60 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Avanos Medical.
Several brokerages recently issued reports on AVNS. Zacks Investment Research upgraded shares of Avanos Medical from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Barclays cut shares of Avanos Medical from an “equal weight” rating to an “underweight” rating in a report on Friday, January 4th. KeyCorp cut their price objective on shares of Avanos Medical from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, December 18th. Finally, TheStreet cut shares of Avanos Medical from a “b-” rating to a “c” rating in a report on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Avanos Medical has a consensus rating of “Hold” and a consensus target price of $67.25.
Shares of NYSE AVNS opened at $47.16 on Thursday. Avanos Medical has a 1 year low of $38.00 and a 1 year high of $72.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.78. The stock has a market cap of $2.22 billion, a P/E ratio of 20.07 and a beta of 1.47.
In other Avanos Medical news, CFO Steven E. Voskuil acquired 2,000 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were acquired at an average price of $43.74 per share, for a total transaction of $87,480.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Wesley acquired 1,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $47.48 per share, for a total transaction of $47,480.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 6,500 shares of company stock worth $286,685. Corporate insiders own 1.44% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AVNS. First Hawaiian Bank bought a new position in shares of Avanos Medical in the fourth quarter worth approximately $45,000. Bollard Group LLC bought a new position in shares of Avanos Medical in the third quarter worth approximately $100,000. Rehmann Capital Advisory Group bought a new position in shares of Avanos Medical in the third quarter worth approximately $108,000. Whittier Trust Co. bought a new position in shares of Avanos Medical in the third quarter worth approximately $110,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Avanos Medical in the second quarter worth approximately $136,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.
Avanos Medical Company Profile
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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