Avanos Medical (NYSE:AVNS) Lifted to “Strong-Buy” at StockNews.com

Avanos Medical (NYSE:AVNS) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Avanos Medical Trading Up 0.5 %

Avanos Medical stock opened at $22.34 on Friday. The business has a 50-day simple moving average of $23.44 and a two-hundred day simple moving average of $21.44. The company has a market cap of $1.03 billion, a P/E ratio of -16.80 and a beta of 0.91. Avanos Medical has a 52-week low of $17.24 and a 52-week high of $25.36. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.13.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $171.70 million during the quarter, compared to the consensus estimate of $170.67 million. Avanos Medical had a return on equity of 4.48% and a net margin of 1.13%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Analysts predict that Avanos Medical will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in shares of Avanos Medical during the 2nd quarter worth approximately $70,000. EntryPoint Capital LLC increased its stake in Avanos Medical by 97.6% in the first quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock worth $112,000 after purchasing an additional 2,766 shares during the period. XTX Topco Ltd purchased a new stake in Avanos Medical in the second quarter worth $202,000. Magnetar Financial LLC purchased a new stake in Avanos Medical in the second quarter worth $248,000. Finally, Janney Montgomery Scott LLC increased its stake in Avanos Medical by 19.1% in the first 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 currently owned by institutional investors.

Avanos Medical Company Profile

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.