Avanos Medical (NYSE:AVNS) Lowered to Buy Rating by StockNews.com

Avanos Medical (NYSE:AVNS) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Avanos Medical Stock Up 0.2 %

Shares of NYSE AVNS opened at $18.71 on Friday. Avanos Medical has a 12-month low of $17.39 and a 12-month high of $25.36. The firm’s 50-day simple moving average is $23.13 and its 200 day simple moving average is $21.48. The company has a quick ratio of 1.49, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The company has a market cap of $859.91 million, a price-to-earnings ratio of 55.03 and a beta of 0.93.

Avanos Medical (NYSE:AVNS) last announced its earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $171.70 million for the quarter, compared to analyst estimates of $170.67 million. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. Avanos Medical’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 earnings per share. On average, research analysts expect that Avanos Medical will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avanos Medical

Several institutional investors have recently modified their holdings of AVNS. William Blair Investment Management LLC boosted its stake in Avanos Medical by 16.8% in the first quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company’s stock valued at $28,372,000 after acquiring an additional 204,826 shares during the last quarter. Paradice Investment Management LLC boosted its position in shares of Avanos Medical by 5.4% in the 2nd quarter. Paradice Investment Management LLC now owns 1,344,949 shares of the company’s stock worth $26,791,000 after purchasing an additional 69,389 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Avanos Medical by 8.2% during the first quarter. Empowered Funds LLC now owns 177,554 shares of the company’s stock worth $3,535,000 after purchasing an additional 13,409 shares during the period. AQR Capital Management LLC increased its holdings in Avanos Medical by 21.0% in the second quarter. AQR Capital Management LLC now owns 146,983 shares of the company’s stock valued at $2,875,000 after purchasing an additional 25,467 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Avanos Medical by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 100,957 shares of the company’s stock valued at $2,011,000 after buying an additional 5,793 shares during the period. Institutional investors and hedge funds own 95.17% of the company’s stock.

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.