Avanos Medical (NYSE:AVNS) Rating Reiterated by JMP Securities

Avanos Medical (NYSE:AVNS)‘s stock had its “market perform” rating reiterated by analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports.

Separately, StockNews.com downgraded Avanos Medical from a “buy” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.00.

Avanos Medical Stock Up 0.2 %

Shares of NYSE:AVNS traded up $0.04 during midday trading on Tuesday, reaching $19.77. The company’s stock had a trading volume of 26,692 shares, compared to its average volume of 274,834. The company has a quick ratio of 1.47, a current ratio of 2.28 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $19.20 and a 200-day moving average of $19.92. The firm has a market capitalization of $907.44 million, a P/E ratio of -14.89 and a beta of 0.97. Avanos Medical has a 12-month low of $17.24 and a 12-month high of $26.56.

Avanos Medical (NYSE:AVNS) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 4.10%. The business had revenue of $166.10 million for the quarter, compared to the consensus estimate of $162.90 million. During the same period in the prior year, the business posted $0.27 EPS. Avanos Medical’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts anticipate that Avanos Medical will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael Greiner sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $19.12, for a total transaction of $152,960.00. Following the completion of the sale, the chief financial officer now owns 151,495 shares of the company’s stock, valued at $2,896,584.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.94% of the company’s stock.

Institutional Investors Weigh In On Avanos Medical

Institutional investors have recently modified their holdings of the business. Gladius Capital Management LP bought a new position in Avanos Medical during the 3rd quarter valued at about $30,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Avanos Medical by 52.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,627 shares of the company’s stock valued at $195,000 after purchasing an additional 3,330 shares during the period. Fulton Bank N.A. purchased a new stake in Avanos Medical in the fourth quarter worth approximately $228,000. Quantbot Technologies LP bought a new stake in Avanos Medical in the 3rd quarter worth approximately $237,000. Finally, Janney Montgomery Scott LLC grew its position in Avanos Medical by 19.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock worth $259,000 after purchasing an additional 2,082 shares during the period. 95.17% of the stock is owned by hedge funds and other institutional investors.

About Avanos Medical

Avanos Medical, Inc, a medical technology company, offers medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.