Avanos Medical (NYSE:AVNS) Raised to “Hold” at Zacks Research

Avanos Medical (NYSE:AVNS) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on AVNS. Weiss Ratings reissued a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, December 22nd. Wall Street Zen raised Avanos Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Avanos Medical Price Performance

AVNS stock opened at $13.14 on Monday. Avanos Medical has a 52-week low of $9.30 and a 52-week high of $17.69. The company has a quick ratio of 1.36, a current ratio of 2.38 and a debt-to-equity ratio of 0.12. The stock has a market cap of $609.73 million, a price-to-earnings ratio of -1.29 and a beta of 1.08. The business has a fifty day moving average of $11.78 and a two-hundred day moving average of $11.63.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. The business had revenue of $177.80 million during the quarter, compared to analysts’ expectations of $164.50 million. Avanos Medical had a positive return on equity of 6.21% and a negative net margin of 67.00%.The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. Avanos Medical has set its FY 2025 guidance at 0.850-0.950 EPS. As a group, research analysts anticipate that Avanos Medical will post 1.32 earnings per share for the current year.

Insider Activity at Avanos Medical

In other Avanos Medical news, SVP Kerr Holbrook sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $11.00, for a total value of $165,000.00. Following the completion of the transaction, the senior vice president owned 83,860 shares in the company, valued at $922,460. The trade was a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its holdings in Avanos Medical by 46.4% in the first quarter. AQR Capital Management LLC now owns 192,864 shares of the company’s stock valued at $2,700,000 after buying an additional 61,095 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Avanos Medical by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock valued at $386,000 after acquiring an additional 1,121 shares during the last quarter. Millennium Management LLC raised its position in shares of Avanos Medical by 508.3% during the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock worth $7,849,000 after acquiring an additional 457,703 shares in the last quarter. Empowered Funds LLC raised its position in shares of Avanos Medical by 5.4% during the 1st quarter. Empowered Funds LLC now owns 162,182 shares of the company’s stock worth $2,324,000 after acquiring an additional 8,348 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Avanos Medical by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,810 shares of the company’s stock worth $2,018,000 after purchasing an additional 20,541 shares during the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Company Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.