Avanos Medical (NYSE:AVNS) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Avanos Medical (NYSE:AVNS – Get Rating) in a research note released on Thursday morning. The brokerage issued a strong-buy rating on the stock.

Separately, Morgan Stanley boosted their price objective on Avanos Medical from $26.00 to $28.00 and gave the company an underweight rating in a report on Wednesday, February 22nd.

Avanos Medical Price Performance

Shares of NYSE AVNS opened at $27.77 on Thursday. Avanos Medical has a fifty-two week low of $19.32 and a fifty-two week high of $34.83. The company has a market cap of $1.29 billion, a PE ratio of 26.45 and a beta of 0.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.67 and a current ratio of 2.69. The business has a 50-day simple moving average of $29.27 and a two-hundred day simple moving average of $26.10.

Avanos Medical (NYSE:AVNS – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.48 by $0.12. The company had revenue of $217.50 million for the quarter, compared to analyst estimates of $217.30 million. Avanos Medical had a return on equity of 6.13% and a net margin of 6.07%. Avanos Medical’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. As a group, equities analysts expect that Avanos Medical will post 1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its position in shares of Avanos Medical by 1,702.8% in the 4th quarter. Meeder Asset Management Inc. now owns 1,911 shares of the company’s stock valued at $52,000 after purchasing an additional 1,805 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Avanos Medical in the 3rd quarter valued at about $77,000. Captrust Financial Advisors boosted its position in shares of Avanos Medical by 23.9% in the 1st quarter. Captrust Financial Advisors now owns 2,704 shares of the company’s stock valued at $91,000 after purchasing an additional 521 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Avanos Medical by 96.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,519 shares of the company’s stock worth $98,000 after acquiring an additional 2,213 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Avanos Medical during the 3rd quarter worth approximately $123,000. 92.08% of the stock is owned by institutional investors and hedge funds.

About Avanos Medical

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Avanos Medical, Inc operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients’ quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care.