Zacks Investment Research cut shares of Avanos Medical (NYSE:AVNS) from a hold rating to a sell rating in a research note released on Tuesday.
According to Zacks, “Avanos Medical Inc. operates as a medical technology company. It offers infection prevention, surgical, respiratory, digestive health and pain management solutions. Avanos Medical Inc., formerly known as Halyard Health Inc., is headquartered in Alpharetta, Georgia. “
AVNS has been the subject of a number of other reports. KeyCorp lowered their price target on Avanos Medical from $68.00 to $67.00 and set an overweight rating for the company in a report on Tuesday, December 18th. ValuEngine downgraded Avanos Medical from a buy rating to a hold rating in a report on Monday. Finally, Barclays downgraded Avanos Medical from an equal weight rating to an underweight rating in a report on Friday, January 4th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $66.75.
Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Tuesday, February 26th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. The firm had revenue of $169.90 million during the quarter, compared to the consensus estimate of $166.88 million. Avanos Medical had a return on equity of 7.20% and a net margin of 8.81%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share. On average, sell-side analysts predict that Avanos Medical will post 1.25 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Avanos Medical by 3.4% in the fourth quarter. BlackRock Inc. now owns 5,441,296 shares of the company’s stock valued at $243,716,000 after acquiring an additional 177,524 shares during the period. Vanguard Group Inc. acquired a new stake in shares of Avanos Medical in the third quarter valued at approximately $294,519,000. Vanguard Group Inc acquired a new stake in shares of Avanos Medical in the third quarter valued at approximately $294,519,000. Dimensional Fund Advisors LP acquired a new stake in shares of Avanos Medical in the third quarter valued at approximately $213,675,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Avanos Medical by 79.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,673,175 shares of the company’s stock valued at $74,942,000 after acquiring an additional 740,450 shares during the period. 91.20% of the stock is owned by institutional investors and hedge funds.
Avanos Medical Company Profile
Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.
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