Avanos Medical (NYSE:AVNS) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Avanos Medical (NYSE:AVNS) from a buy rating to a strong-buy rating in a report published on Tuesday morning.

Avanos Medical Stock Up 0.7 %

Shares of NYSE:AVNS opened at $22.80 on Tuesday. The business’s 50-day moving average is $23.44 and its 200-day moving average is $21.29. Avanos Medical has a 1 year low of $17.24 and a 1 year high of $25.36. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -17.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.28 and a quick ratio of 1.49.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $171.70 million for the quarter, compared to analyst estimates of $170.67 million. Avanos Medical had a return on equity of 4.48% and a net margin of 1.13%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Equities research analysts predict that Avanos Medical will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On Avanos Medical

Several hedge funds and other institutional investors have recently bought and sold shares of AVNS. William Blair Investment Management LLC grew its stake in shares of Avanos Medical by 16.8% in the 1st quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company’s stock valued at $28,372,000 after buying an additional 204,826 shares during the period. Paradice Investment Management LLC boosted its holdings in Avanos Medical by 5.4% in the second quarter. Paradice Investment Management LLC now owns 1,344,949 shares of the company’s stock worth $26,791,000 after acquiring an additional 69,389 shares in the last quarter. Tributary Capital Management LLC grew its stake in Avanos Medical by 7.5% in the first quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock valued at $14,782,000 after acquiring an additional 51,865 shares during the period. Principal Financial Group Inc. grew its stake in Avanos Medical by 1.4% in the first quarter. Principal Financial Group Inc. now owns 256,814 shares of the company’s stock valued at $5,113,000 after acquiring an additional 3,550 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of Avanos Medical by 8.2% during the first quarter. Empowered Funds LLC now owns 177,554 shares of the company’s stock valued at $3,535,000 after acquiring an additional 13,409 shares in the last quarter. 95.17% of the stock is owned by institutional investors.

Avanos Medical Company Profile

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.