Avanos Medical (NYSE:AVNS) Releases FY 2022 Earnings Guidance

Avanos Medical (NYSE:AVNSGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.45-$1.65 for the period, compared to the consensus estimate of $1.64. The company issued revenue guidance of $815.00 million-$835.00 million, compared to the consensus revenue estimate of $841.40 million.

Avanos Medical Stock Performance

Shares of Avanos Medical stock opened at $29.59 on Tuesday. The company’s 50 day moving average price is $27.30 and its 200-day moving average price is $29.57. Avanos Medical has a 52-week low of $24.54 and a 52-week high of $36.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 2.89.

Avanos Medical (NYSE:AVNSGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $203.00 million during the quarter, compared to analyst estimates of $208.28 million. Avanos Medical had a positive return on equity of 5.27% and a negative net margin of 1.02%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. On average, sell-side analysts forecast that Avanos Medical will post 1.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVNS shares. KeyCorp cut their price objective on Avanos Medical from $41.00 to $38.00 and set an overweight rating for the company in a research note on Wednesday, August 10th. Morgan Stanley cut their price objective on Avanos Medical from $33.00 to $28.00 and set an underweight rating for the company in a research note on Friday, July 15th. StockNews.com upgraded Avanos Medical from a hold rating to a buy rating in a research note on Thursday, August 11th. Finally, Stifel Nicolaus cut their price objective on Avanos Medical from $37.00 to $28.00 in a research note on Monday, July 18th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its holdings in Avanos Medical by 23.9% in the 1st quarter. Captrust Financial Advisors now owns 2,704 shares of the company’s stock worth $91,000 after purchasing an additional 521 shares in the last quarter. US Bancorp DE lifted its holdings in Avanos Medical by 12.3% in the 1st quarter. US Bancorp DE now owns 11,468 shares of the company’s stock worth $383,000 after purchasing an additional 1,259 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Avanos Medical by 2.9% in the 1st quarter. Yousif Capital Management LLC now owns 44,538 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,272 shares in the last quarter. Royal Bank of Canada lifted its holdings in Avanos Medical by 0.6% in the 1st quarter. Royal Bank of Canada now owns 522,641 shares of the company’s stock worth $17,507,000 after purchasing an additional 3,044 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in Avanos Medical by 10.4% in the 1st quarter. Engineers Gate Manager LP now owns 39,153 shares of the company’s stock worth $1,312,000 after purchasing an additional 3,681 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

About Avanos Medical

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Avanos Medical, Inc, a medical technology company, focuses on delivering 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; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.

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Earnings History and Estimates for Avanos Medical (NYSE:AVNS)

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