Zacks Investment Research Lowers Avanos Medical (AVNS) to Sell

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Zacks Investment Research lowered shares of Avanos Medical (NYSE:AVNS) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

According to Zacks, “Avanos Medical Inc. operates as a medical technology company. It offers infection prevention, surgical, respiratory, digestive health and pain management solutions. Avanos Medical Inc., formerly known as Halyard Health Inc., is headquartered in Alpharetta, Georgia. “

Other equities research analysts also recently issued reports about the company. Barclays started coverage on Avanos Medical in a research report on Monday, October 15th. They issued an equal weight rating and a $69.00 target price for the company. Raymond James upgraded Avanos Medical from a market perform rating to an outperform rating in a research report on Tuesday, August 21st. KeyCorp upped their target price on Avanos Medical from $66.00 to $75.00 and gave the stock an overweight rating in a research report on Wednesday, August 8th. Finally, Morgan Stanley upped their target price on Avanos Medical from $60.00 to $62.00 and gave the stock an underweight rating in a research report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Avanos Medical presently has an average rating of Hold and a consensus target price of $69.25.

AVNS traded up $0.09 during trading on Wednesday, reaching $50.70. The stock had a trading volume of 357,529 shares, compared to its average volume of 376,287. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 21.57 and a beta of 1.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.18. Avanos Medical has a 1-year low of $43.78 and a 1-year high of $72.96.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, November 6th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $165.10 million during the quarter, compared to the consensus estimate of $166.57 million. Avanos Medical had a return on equity of 6.59% and a net margin of 14.26%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts expect that Avanos Medical will post 1.83 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in AVNS. Bollard Group LLC acquired a new stake in shares of Avanos Medical during the 3rd quarter valued at $100,000. Whittier Trust Co. acquired a new stake in shares of Avanos Medical during the 3rd quarter valued at $110,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Avanos Medical during the 2nd quarter valued at $136,000. CENTRAL TRUST Co acquired a new stake in shares of Avanos Medical during the 3rd quarter valued at $167,000. Finally, Bank of Montreal Can acquired a new stake in shares of Avanos Medical during the 3rd quarter valued at $197,000. Institutional investors own 84.10% 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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