Equities analysts predict that Avanos Medical Inc (NYSE:AVNS) will report $167.47 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Avanos Medical’s earnings, with estimates ranging from $166.70 million to $168.70 million. Avanos Medical reported sales of $401.40 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 58.3%. The company is expected to issue its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Avanos Medical will report full-year sales of $670.05 million for the current year, with estimates ranging from $665.90 million to $673.38 million. For the next financial year, analysts forecast that the company will report sales of $731.88 million, with estimates ranging from $722.80 million to $738.81 million. Zacks’ sales calculations are an 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 results on Tuesday, August 7th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.10. Avanos Medical had a return on equity of 7.61% and a net margin of 11.85%. The company had revenue of $160.90 million for the quarter, compared to analyst estimates of $157.37 million.
AVNS has been the topic of several research reports. KeyCorp lifted their price target on Avanos Medical from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 8th. Morgan Stanley lifted their price objective on Avanos Medical from $58.00 to $60.00 and gave the company an “underweight” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Avanos Medical from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Thursday, August 9th. Finally, Raymond James upgraded Avanos Medical from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 21st.
Shares of NYSE AVNS traded down $0.36 during mid-day trading on Wednesday, hitting $63.25. 279,000 shares of the stock traded hands, compared to its average volume of 375,148. The company has a quick ratio of 2.18, a current ratio of 2.48 and a debt-to-equity ratio of 0.19. Avanos Medical has a 52 week low of $41.51 and a 52 week high of $72.96. The firm has a market capitalization of $3.24 billion, a PE ratio of 26.85 and a beta of 1.77.
A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Avanos Medical during the second quarter valued at $136,000. CENTRAL TRUST Co purchased a new position in Avanos Medical during the third quarter valued at $167,000. McQueen Ball & Associates Inc. purchased a new position in Avanos Medical during the third quarter valued at $268,000. Fox Run Management L.L.C. purchased a new position in Avanos Medical during the third quarter valued at $704,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in Avanos Medical during the second quarter valued at $1,033,000. Institutional investors and hedge funds own 84.85% of the company’s stock.
Avanos Medical Company Profile
Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.
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