Avanos Medical (NYSE:AVNS) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS
by Jessica Moore · The Cerbat GemAvanos Medical (NYSE:AVNS – Get Free Report) posted its earnings results on Tuesday. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08, FiscalAI reports. The company had revenue of $182.20 million for the quarter, compared to the consensus estimate of $170.00 million. Avanos Medical had a positive return on equity of 5.47% and a negative net margin of 10.40%.The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share.
Avanos Medical Trading Up 0.3%
Shares of NYSE:AVNS traded up $0.07 during mid-day trading on Tuesday, reaching $24.73. 228,453 shares of the company’s stock were exchanged, compared to its average volume of 1,051,871. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -15.64 and a beta of 1.58. Avanos Medical has a twelve month low of $9.30 and a twelve month high of $24.75. The business’s fifty day moving average price is $16.66 and its 200-day moving average price is $13.73. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.26 and a current ratio of 2.15.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on AVNS shares. Wall Street Zen lowered shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Zacks Research raised shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Weiss Ratings upgraded Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.
View Our Latest Stock Report on Avanos Medical
Institutional Investors Weigh In On Avanos Medical
Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Avanos Medical by 312.4% during the 3rd quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock worth $10,361,000 after purchasing an additional 678,898 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of Avanos Medical by 22.8% in the 3rd quarter. Armistice Capital LLC now owns 2,500,000 shares of the company’s stock valued at $28,900,000 after purchasing an additional 464,000 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Avanos Medical by 356.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 591,181 shares of the company’s stock valued at $6,834,000 after purchasing an additional 461,706 shares in the last quarter. Citadel Advisors LLC grew its stake in Avanos Medical by 212.0% during the third quarter. Citadel Advisors LLC now owns 574,104 shares of the company’s stock worth $6,637,000 after purchasing an additional 390,082 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Avanos Medical by 190.4% in the second quarter. AQR Capital Management LLC now owns 560,052 shares of the company’s stock worth $6,855,000 after purchasing an additional 367,188 shares in the last quarter. Institutional investors own 95.17% of the company’s stock.
About Avanos Medical
Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.
In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.