Avanos Medical (NYSE:AVNS) Announces Quarterly Earnings Results

Avanos Medical (NYSE:AVNS) posted its earnings results on Wednesday. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36, reports. The company had revenue of $170.40 million for the quarter, compared to analyst estimates of $175.03 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. Avanos Medical updated its FY 2024 guidance to 1.300-1.350 EPS.

Avanos Medical Price Performance

Shares of Avanos Medical stock opened at $18.68 on Friday. Avanos Medical has a 1-year low of $17.39 and a 1-year high of $25.36. The firm has a fifty day simple moving average of $23.23 and a 200-day simple moving average of $21.48. The company has a current ratio of 2.22, a quick ratio of 1.49 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $858.35 million, a price-to-earnings ratio of 54.94 and a beta of 0.91.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Avanos Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 26th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of Avanos Medical in the first quarter valued at about $439,000. BNP Paribas Financial Markets boosted its stake in Avanos Medical by 314.4% during the 1st quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company’s stock valued at $1,067,000 after purchasing an additional 40,653 shares during the period. Boston Partners acquired a new stake in Avanos Medical in the 1st quarter valued at approximately $571,000. Quest Partners LLC bought a new position in Avanos Medical in the 2nd quarter worth approximately $444,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Avanos Medical during the second quarter worth approximately $551,000. Institutional investors own 95.17% of the company’s stock.

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.