Avanos Medical (NYSE:AVNS) Announces Earnings Results

Avanos Medical (NYSE:AVNS) announced its quarterly earnings results on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05, Briefing.com reports. Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 4.10%. The firm had revenue of $171.70 million for the quarter, compared to the consensus estimate of $170.67 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Avanos Medical updated its FY24 guidance to $1.30-1.45 EPS and its FY 2024 guidance to 1.300-1.450 EPS.

Avanos Medical Stock Performance

Shares of NYSE AVNS traded down $0.18 during midday trading on Thursday, hitting $23.74. 281,435 shares of the company’s stock traded hands, compared to its average volume of 246,708. The firm has a fifty day moving average of $20.45 and a 200 day moving average of $19.71. Avanos Medical has a 1 year low of $17.24 and a 1 year high of $24.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.47 and a current ratio of 2.28. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.77 and a beta of 0.94.

Analyst Ratings Changes

AVNS has been the topic of several research reports. JMP Securities restated a “market perform” rating on shares of Avanos Medical in a report on Tuesday, May 7th. StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a report on Saturday, May 11th.

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.