StockNews.com Downgrades Avanos Medical (NYSE:AVNS) to Hold

Avanos Medical (NYSE:AVNSGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

AVNS has been the subject of a number of other reports. Morgan Stanley reduced their target price on shares of Avanos Medical from $37.00 to $36.00 and set an “underweight” rating for the company in a report on Friday, January 7th. TheStreet raised shares of Avanos Medical from a “d+” rating to a “c” rating in a research note on Monday, January 3rd. Finally, KeyCorp decreased their price objective on shares of Avanos Medical from $47.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, February 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.25.

Shares of NYSE:AVNS opened at $31.93 on Friday. Avanos Medical has a 52 week low of $27.96 and a 52 week high of $46.13. The company has a quick ratio of 1.93, a current ratio of 3.01 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 319.33 and a beta of 0.84. The company has a 50 day moving average price of $32.46.

Avanos Medical (NYSE:AVNSGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Avanos Medical had a net margin of 0.70% and a return on equity of 4.40%. The business had revenue of $193.40 million for the quarter, compared to analyst estimates of $191.33 million. During the same quarter last year, the business earned $0.28 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Avanos Medical will post 1.64 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in AVNS. First Trust Advisors LP raised its holdings in Avanos Medical by 18.7% in the 1st quarter. First Trust Advisors LP now owns 7,531 shares of the company’s stock worth $321,000 after acquiring an additional 1,185 shares during the period. Morgan Stanley raised its holdings in Avanos Medical by 256.9% in the 2nd quarter. Morgan Stanley now owns 372,986 shares of the company’s stock worth $13,565,000 after acquiring an additional 268,465 shares during the period. Maryland State Retirement & Pension System bought a new position in shares of Avanos Medical during the 3rd quarter worth about $604,000. SG Americas Securities LLC increased its holdings in shares of Avanos Medical by 1,769.0% during the 3rd quarter. SG Americas Securities LLC now owns 52,818 shares of the company’s stock worth $1,648,000 after purchasing an additional 49,992 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Avanos Medical by 71.8% during the 3rd quarter. Victory Capital Management Inc. now owns 22,519 shares of the company’s stock worth $703,000 after purchasing an additional 9,411 shares during the period. Institutional investors and hedge funds own 92.93% of the company’s stock.

About Avanos Medical (Get Rating)

Avanos Medical, Inc, a medical technology company, focuses on delivering medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.

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