Avanos Medical (NYSE:AVNS) Posts Earnings Results, Beats Expectations By $0.08 EPS

Avanos Medical (NYSE:AVNS) released its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.08, FiscalAI reports. The firm had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $170.00 million. Avanos Medical had a negative net margin of 10.40% and a positive return on equity of 5.47%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share.

Avanos Medical Price Performance

Shares of NYSE:AVNS traded up $0.05 during midday trading on Tuesday, reaching $24.71. 206,935 shares of the company were exchanged, compared to its average volume of 1,050,438. The company has a current ratio of 2.15, a quick ratio of 1.26 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $16.66 and its two-hundred day moving average is $13.73. Avanos Medical has a one year low of $9.30 and a one year high of $24.75. The stock has a market cap of $1.15 billion, a PE ratio of -15.64 and a beta of 1.58.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Avanos Medical by 969.3% during the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock valued at $31,000 after buying an additional 2,307 shares during the last quarter. Wexford Capital LP bought a new stake in Avanos Medical in the 3rd quarter worth approximately $70,000. Tower Research Capital LLC TRC increased its stake in Avanos Medical by 433.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock worth $77,000 after acquiring an additional 5,083 shares during the last quarter. Quantessence Capital LLC purchased a new stake in shares of Avanos Medical during the 3rd quarter worth approximately $116,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Avanos Medical during the 4th quarter worth approximately $122,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Wall Street Analysts Forecast Growth

AVNS has been the topic of several research reports. Wall Street Zen cut Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings raised shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research raised shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.

About Avanos Medical

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.