Avanos Medical (NYSE:AVNS) Shares Up 0% – Time to Buy?

Avanos Medical, Inc. (NYSE:AVNS)’s share price shot up 0% on Thursday . The stock traded as high as $24.94 and last traded at $24.9290. 285,312 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 893,350 shares. The stock had previously closed at $24.92.

Analyst Ratings Changes

Several research firms have commented on AVNS. Weiss Ratings raised shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Zacks Research raised shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Wall Street Zen lowered Avanos Medical from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Avanos Medical currently has an average rating of “Reduce”.

Avanos Medical Trading Up 0.0%

The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $24.86 and its 200 day simple moving average is $18.30. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -15.49 and a beta of 1.57.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The company had revenue of $182.20 million for the quarter, compared to analyst estimates of $170.00 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. On average, research analysts expect that Avanos Medical, Inc. will post 1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Avanos Medical

Hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Avanos Medical by 2.8% during the 4th quarter. Federated Hermes Inc. now owns 25,774 shares of the company’s stock valued at $289,000 after purchasing an additional 691 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Avanos Medical by 15.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company’s stock valued at $89,000 after purchasing an additional 846 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Avanos Medical by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock worth $386,000 after purchasing an additional 1,121 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Avanos Medical by 132.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock valued at $28,000 after purchasing an additional 1,423 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Avanos Medical by 2.1% during the 4th quarter. Swiss National Bank now owns 91,500 shares of the company’s stock worth $1,028,000 after acquiring an additional 1,900 shares during the last quarter. Institutional investors own 95.17% of the company’s stock.

Avanos Medical Company Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.