$177.83 Million in Sales Expected for Avanos Medical Inc (NYSE:AVNS) This Quarter

Equities analysts expect that Avanos Medical Inc (NYSE:AVNS) will post sales of $177.83 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Avanos Medical’s earnings. The lowest sales estimate is $175.00 million and the highest is $180.90 million. Avanos Medical reported sales of $169.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The business is scheduled to issue its next earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Avanos Medical will report full year sales of $686.79 million for the current financial year, with estimates ranging from $682.80 million to $690.24 million. For the next financial year, analysts anticipate that the business will post sales of $738.97 million, with estimates ranging from $735.80 million to $742.26 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Avanos Medical.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The firm had revenue of $171.40 million during the quarter, compared to analysts’ expectations of $179.98 million. Avanos Medical had a negative net margin of 6.20% and a positive return on equity of 3.92%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS.

Several research firms have commented on AVNS. Stifel Nicolaus lowered shares of Avanos Medical from a “buy” rating to a “hold” rating and decreased their price objective for the company from $45.00 to $35.00 in a research note on Wednesday, November 6th. ValuEngine lowered shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Zacks Investment Research upgraded shares of Avanos Medical from a “sell” rating to a “hold” rating and set a $46.00 price objective for the company in a research note on Wednesday, October 30th. KeyCorp decreased their price objective on shares of Avanos Medical from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, Raymond James lowered shares of Avanos Medical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Avanos Medical has a consensus rating of “Hold” and an average target price of $44.80.

NYSE:AVNS opened at $32.60 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.84 and a current ratio of 2.51. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 39.76 and a beta of 1.56. Avanos Medical has a 52 week low of $31.78 and a 52 week high of $53.45. The firm has a 50-day moving average price of $39.12 and a two-hundred day moving average price of $39.80.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Avanos Medical by 0.4% during the 2nd quarter. BlackRock Inc. now owns 5,465,732 shares of the company’s stock worth $238,360,000 after purchasing an additional 23,000 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Avanos Medical by 4.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,291,582 shares of the company’s stock worth $99,936,000 after buying an additional 94,857 shares during the period. Paradice Investment Management LLC boosted its holdings in Avanos Medical by 12.9% in the 3rd quarter. Paradice Investment Management LLC now owns 2,248,108 shares of the company’s stock worth $84,214,000 after buying an additional 256,525 shares during the period. Invesco Ltd. boosted its holdings in Avanos Medical by 21.0% in the 2nd quarter. Invesco Ltd. now owns 1,637,165 shares of the company’s stock worth $71,396,000 after buying an additional 284,234 shares during the period. Finally, Northern Trust Corp boosted its holdings in Avanos Medical by 6.7% in the 2nd quarter. Northern Trust Corp now owns 1,371,355 shares of the company’s stock worth $59,805,000 after buying an additional 85,694 shares during the period. Institutional investors own 94.40% of the company’s stock.

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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