KeyCorp Brokers Lift Earnings Estimates for Avanos Medical, Inc. (NYSE:AVNS)

Avanos Medical, Inc. (NYSE:AVNSGet Rating) – Equities researchers at KeyCorp raised their Q2 2022 EPS estimates for shares of Avanos Medical in a research note issued on Wednesday, May 4th. KeyCorp analyst M. Mishan now forecasts that the company will post earnings per share of $0.35 for the quarter, up from their prior estimate of $0.34. KeyCorp has a “Overweight” rating and a $41.00 price target on the stock. KeyCorp also issued estimates for Avanos Medical’s Q3 2022 earnings at $0.47 EPS, Q4 2022 earnings at $0.57 EPS and FY2022 earnings at $1.65 EPS.

Avanos Medical (NYSE:AVNSGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Avanos Medical had a return on equity of 4.40% and a net margin of 0.70%. The company had revenue of $197.40 million for the quarter, compared to analysts’ expectations of $197.80 million. During the same period last year, the business earned $0.23 EPS. Avanos Medical’s quarterly revenue was up 9.2% compared to the same quarter last year.

Several other brokerages have also recently weighed in on AVNS. Zacks Investment Research cut Avanos Medical from a “strong-buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research note on Tuesday, April 26th. StockNews.com lowered Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 16th. Finally, Morgan Stanley reduced their target price on Avanos Medical from $37.00 to $36.00 and set an “underweight” rating for the company in a report on Friday, January 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.75.

Shares of AVNS opened at $29.44 on Friday. Avanos Medical has a 12-month low of $27.96 and a 12-month high of $45.42. The business’s fifty day moving average is $32.38 and its 200 day moving average is $32.18. 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 stock has a market cap of $1.39 billion, a P/E ratio of 77.48 and a beta of 0.87.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVNS. Eaton Vance Management lifted its holdings in Avanos Medical by 66.9% in the fourth quarter. Eaton Vance Management now owns 3,517 shares of the company’s stock valued at $29,000 after acquiring an additional 1,410 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in shares of Avanos Medical during the first quarter worth about $30,000. First Quadrant L P CA purchased a new stake in shares of Avanos Medical during the fourth quarter worth about $41,000. First Horizon Advisors Inc. grew its position in shares of Avanos Medical by 5,095.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,195 shares of the company’s stock worth $41,000 after purchasing an additional 1,172 shares in the last quarter. Finally, KBC Group NV purchased a new position in Avanos Medical during the 3rd quarter valued at approximately $48,000. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Company Profile (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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