Analysts Anticipate Avanos Medical Inc (NYSE:AVNS) Will Post Quarterly Sales of $180.63 Million

Analysts predict that Avanos Medical Inc (NYSE:AVNS) will post sales of $180.63 million for the current quarter, according to Zacks. Three analysts have issued estimates for Avanos Medical’s earnings. The highest sales estimate is $180.80 million and the lowest is $180.50 million. Avanos Medical posted sales of $165.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The firm is expected to report its next earnings report on Tuesday, November 5th.

On average, analysts expect that Avanos Medical will report full-year sales of $707.57 million for the current fiscal year, with estimates ranging from $705.07 million to $709.20 million. For the next year, analysts anticipate that the company will post sales of $765.08 million, with estimates ranging from $760.90 million to $769.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Avanos Medical.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $172.20 million for the quarter, compared to analyst estimates of $172.02 million. Avanos Medical had a positive return on equity of 4.18% and a negative net margin of 3.92%. Avanos Medical’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share.

A number of equities analysts recently weighed in on the company. Stifel Nicolaus set a $45.00 price target on Avanos Medical and gave the stock a “buy” rating in a research note on Wednesday, August 7th. ValuEngine raised Avanos Medical from a “hold” rating to a “buy” rating in a research note on Wednesday. Raymond James dropped their price target on Avanos Medical from $57.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, JMP Securities reissued a “hold” rating on shares of Avanos Medical in a research note on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $57.50.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Avanos Medical by 21.0% during the 2nd quarter. Invesco Ltd. now owns 1,637,165 shares of the company’s stock valued at $71,396,000 after buying an additional 284,234 shares during the last quarter. Stevens Capital Management LP acquired a new stake in Avanos Medical in the 2nd quarter worth approximately $452,000. Magnetar Financial LLC acquired a new stake in Avanos Medical in the 2nd quarter worth approximately $576,000. FIL Ltd lifted its holdings in Avanos Medical by 43.2% in the 1st quarter. FIL Ltd now owns 134,865 shares of the company’s stock worth $5,756,000 after purchasing an additional 40,658 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in Avanos Medical in the 2nd quarter worth approximately $4,999,000. Hedge funds and other institutional investors own 94.11% of the company’s stock.

AVNS traded down $0.12 during trading on Monday, reaching $36.22. The company had a trading volume of 193,755 shares, compared to its average volume of 320,494. The firm’s 50-day simple moving average is $35.46 and its 200 day simple moving average is $40.41. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 44.17 and a beta of 1.53. Avanos Medical has a 12-month low of $31.78 and a 12-month high of $64.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.35 and a current ratio of 3.06.

About Avanos Medical

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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