Avanos Medical (NYSE:AVNS) Releases FY 2022 Earnings Guidance

Avanos Medical (NYSE:AVNSGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.55-$1.75 for the period, compared to the consensus EPS estimate of $1.64. The company issued revenue guidance of $830.00 million-$850.00 million, compared to the consensus revenue estimate of $842.09 million.

Shares of Avanos Medical stock opened at $25.36 on Wednesday. The firm has a market cap of $1.20 billion, a PE ratio of 66.74 and a beta of 0.87. The stock’s 50-day moving average price is $31.85. The company has a quick ratio of 1.93, a current ratio of 2.87 and a debt-to-equity ratio of 0.20. Avanos Medical has a 12-month low of $24.85 and a 12-month high of $45.42.

Avanos Medical (NYSE:AVNSGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $197.40 million for the quarter, compared to analyst estimates of $197.80 million. Avanos Medical had a net margin of 2.44% and a return on equity of 4.49%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. On average, equities analysts predict that Avanos Medical will post 1.66 EPS for the current year.

Several research analysts have recently commented on AVNS shares. StockNews.com cut shares of Avanos Medical from a buy rating to a hold rating in a report on Saturday, April 16th. Zacks Investment Research lowered Avanos Medical from a strong-buy rating to a hold rating and set a $33.00 price target on the stock. in a research report on Tuesday, April 26th. Finally, KeyCorp lowered their price objective on Avanos Medical from $47.00 to $41.00 and set an overweight rating for the company in a research report on Thursday, February 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $38.75.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Avanos Medical during the 4th quarter valued at $15,630,000. Morgan Stanley grew its holdings in shares of Avanos Medical by 256.9% during the second quarter. Morgan Stanley now owns 372,986 shares of the company’s stock valued at $13,565,000 after buying an additional 268,465 shares during the last quarter. Millennium Management LLC increased its position in shares of Avanos Medical by 177.1% during the fourth quarter. Millennium Management LLC now owns 314,192 shares of the company’s stock worth $10,893,000 after acquiring an additional 200,792 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Avanos Medical by 0.4% in the 4th quarter. Legal & General Group Plc now owns 194,149 shares of the company’s stock worth $6,731,000 after acquiring an additional 692 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Avanos Medical by 17.0% in the 4th quarter. Parametric Portfolio Associates LLC now owns 127,366 shares of the company’s stock valued at $4,416,000 after acquiring an additional 18,538 shares in the last quarter. Institutional investors own 92.71% 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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