Zacks: Analysts Expect Avanos Medical Inc (AVNS) Will Announce Earnings of $0.18 Per Share

Equities research analysts expect Avanos Medical Inc (NYSE:AVNS) to report earnings of $0.18 per share for the current quarter, Zacks reports. Three analysts have made estimates for Avanos Medical’s earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.21. Avanos Medical posted earnings per share of $0.76 during the same quarter last year, which suggests a negative year-over-year growth rate of 76.3%. The company is scheduled to announce its next earnings results on Wednesday, May 1st.

On average, analysts expect that Avanos Medical will report full year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.19 to $1.45. For the next year, analysts forecast that the firm will post earnings of $1.83 per share, with EPS estimates ranging from $1.68 to $1.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Avanos Medical.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Tuesday, February 26th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. Avanos Medical had a net margin of 8.81% and a return on equity of 7.20%. The company had revenue of $169.90 million during the quarter, compared to the consensus estimate of $166.88 million. During the same period in the previous year, the firm earned $0.73 earnings per share. Avanos Medical’s revenue for the quarter was up 2.2% on a year-over-year basis.



Several equities research analysts have issued reports on the stock. KeyCorp decreased their price objective on shares of Avanos Medical from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, February 27th. Zacks Investment Research raised shares of Avanos Medical from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. ValuEngine cut shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Barclays cut shares of Avanos Medical from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 4th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.75.

AVNS traded down $0.35 during trading on Thursday, hitting $42.85. 496,264 shares of the company’s stock were exchanged, compared to its average volume of 375,507. The company has a quick ratio of 2.24, a current ratio of 2.70 and a debt-to-equity ratio of 0.19. Avanos Medical has a 1 year low of $38.00 and a 1 year high of $72.96. The company has a market cap of $2.04 billion, a P/E ratio of 52.26 and a beta of 1.47.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Avanos Medical by 10.5% in the fourth quarter. Geode Capital Management LLC now owns 509,752 shares of the company’s stock valued at $22,831,000 after acquiring an additional 48,245 shares in the last quarter. Norges Bank acquired a new stake in Avanos Medical in the fourth quarter valued at $33,253,000. FMR LLC raised its holdings in Avanos Medical by 25.6% in the fourth quarter. FMR LLC now owns 304,296 shares of the company’s stock valued at $13,630,000 after acquiring an additional 62,112 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Avanos Medical by 15.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,035,006 shares of the company’s stock valued at $46,358,000 after acquiring an additional 136,508 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Avanos Medical by 5.9% in the fourth quarter. Legal & General Group Plc now owns 61,075 shares of the company’s stock valued at $2,735,000 after acquiring an additional 3,393 shares in the last quarter. 91.20% of the stock is currently 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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