Avanos Medical, Inc. (NYSE:AVNS) Expected to Announce Quarterly Sales of $185.50 Million

Equities analysts expect Avanos Medical, Inc. (NYSE:AVNS) to report sales of $185.50 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Avanos Medical’s earnings. Avanos Medical posted sales of $185.70 million in the same quarter last year, which suggests a negative year over year growth rate of 0.1%. The business is expected to issue its next quarterly earnings report on Tuesday, November 2nd.

According to Zacks, analysts expect that Avanos Medical will report full-year sales of $743.76 million for the current fiscal year, with estimates ranging from $742.09 million to $745.30 million. For the next year, analysts expect that the firm will post sales of $780.22 million, with estimates ranging from $775.17 million to $786.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Avanos Medical.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Monday, August 2nd. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The firm had revenue of $186.40 million for the quarter, compared to analysts’ expectations of $180.56 million. Avanos Medical had a return on equity of 3.52% and a net margin of 0.33%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share.

A number of equities analysts have recently weighed in on AVNS shares. Stephens cut Avanos Medical from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $60.00 to $45.00 in a report on Wednesday, August 4th. Morgan Stanley cut their price target on Avanos Medical from $45.00 to $41.00 and set an “underweight” rating for the company in a report on Wednesday, August 4th. Finally, KeyCorp cut their price target on Avanos Medical from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, August 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $46.00.

A number of hedge funds have recently bought and sold shares of the business. Associated Banc Corp boosted its position in shares of Avanos Medical by 114.2% in the first quarter. Associated Banc Corp now owns 41,604 shares of the company’s stock worth $1,121,000 after buying an additional 22,177 shares during the period. Principal Financial Group Inc. boosted its position in shares of Avanos Medical by 19.1% in the first quarter. Principal Financial Group Inc. now owns 177,090 shares of the company’s stock worth $7,746,000 after buying an additional 28,392 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of Avanos Medical by 15.2% in the first quarter. D. E. Shaw & Co. Inc. now owns 194,560 shares of the company’s stock worth $8,510,000 after buying an additional 25,620 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Avanos Medical by 25.7% in the first quarter. Nuveen Asset Management LLC now owns 289,614 shares of the company’s stock worth $12,667,000 after buying an additional 59,263 shares during the period. Finally, Morgan Stanley boosted its position in shares of Avanos Medical by 46.1% in the first quarter. Morgan Stanley now owns 104,521 shares of the company’s stock worth $4,571,000 after buying an additional 33,001 shares during the period. 91.25% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE AVNS traded up $0.17 during trading on Tuesday, reaching $31.55. The company had a trading volume of 356,023 shares, compared to its average volume of 362,597. Avanos Medical has a twelve month low of $30.96 and a twelve month high of $53.61. The stock has a market capitalization of $1.52 billion, a PE ratio of 1,042.33 and a beta of 0.91. The stock has a 50-day moving average price of $34.33 and a two-hundred day moving average price of $39.56. The company has a current ratio of 2.80, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13.

About Avanos Medical

Avanos Medical, Inc operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients’ quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care.

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