Avanos Medical (NYSE:AVNS) Announces Quarterly Earnings Results

Avanos Medical (NYSE:AVNS) issued its quarterly earnings data on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05, Briefing.com reports. Avanos Medical had a positive return on equity of 4.10% and a negative net margin of 9.15%. The company had revenue of $171.70 million for the quarter, compared to analyst estimates of $170.67 million. During the same quarter last year, the company posted $0.24 earnings per share. 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 Trading Down 0.8 %

Shares of NYSE:AVNS traded down $0.18 during trading on Thursday, reaching $23.74. The stock had a trading volume of 281,435 shares, compared to its average volume of 246,708. Avanos Medical has a fifty-two week low of $17.24 and a fifty-two week high of $24.77. The business has a fifty day moving average price of $20.45 and a 200-day moving average price of $19.71. The stock has a market cap of $1.09 billion, a P/E ratio of -17.77 and a beta of 0.94. The company has a quick ratio of 1.47, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

AVNS has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Avanos Medical in a research note on Tuesday, May 7th. StockNews.com upgraded shares of Avanos Medical from a “hold” rating to a “buy” rating in a research 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.