Avanos Medical (NYSE:AVNS) Updates FY24 Earnings Guidance

Avanos Medical (NYSE:AVNS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.30-1.45 for the period, compared to the consensus earnings per share estimate of $1.38. The company issued revenue guidance of $685-705 million, compared to the consensus revenue estimate of $691.07 million.

Avanos Medical Price Performance

Shares of NYSE AVNS opened at $18.80 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.08 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $19.19 and a 200 day moving average price of $19.89. Avanos Medical has a 1-year low of $17.24 and a 1-year high of $29.73.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, February 20th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Avanos Medical had a negative net margin of 8.76% and a positive return on equity of 4.25%. The business had revenue of $173.30 million during the quarter, compared to analyst estimates of $170.43 million. During the same period last year, the business posted $0.60 EPS. Avanos Medical’s revenue was down 4.6% compared to the same quarter last year. On average, research analysts anticipate that Avanos Medical will post 1.38 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Avanos Medical from a hold rating to a buy rating in a research note on Tuesday, March 19th.

Insider Buying and Selling

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $19.12, for a total value of $152,960.00. Following the transaction, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at approximately $2,896,584.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

About Avanos Medical

Avanos Medical, Inc, a medical technology company, offers 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.